EU's Vehicle Registration Trends and Electric Vehicle Market Influence

In 2022, the automotive industry saw a significant shift towards electric vehicles (EVs) across Europe.

The average share of battery-electric vans rose by 5% in 2022, with the average market share increasing from 13% to 18% in Q3. This trend continued into Q4, as the share of battery-electric vans increased from 6% in Q3 to 8%.

The growth in EV adoption was not limited to vans, as the market share of Battery Electric Vehicles (BEVs) also increased by 3% compared to 2021, accounting for 18% of all new automobiles registered in 2022.

Norway had the highest registration share of BEVs and Plug-in Hybrid Vehicles (PHEVs) in 2022, with a staggering 88% of all new vehicle registrations being EVs. Iceland, Sweden, Finland, Denmark, the Netherlands, Germany, Belgium, and Luxembourg also had EV registration shares above the European average (23%) in 2022.

Among the manufacturers, Volvo achieved an 18 percentage point improvement in its BEV share compared to 2021, while BMW saw a 6 percentage point improvement. All manufacturers, apart from the Renault-Nissan-Mitsubishi group, achieved their CO2 targets for 2022. The Stellantis group surpassed their CO2 targets by 25 g/km.

However, it's worth noting that one industrial consortium, including Mazda, Subaru, and Toyota, was exempted from compliance requirements in 2022 and still allowed to use Super-Credits. This consortium has the lowest percentage of BEVs among all registrations, at only 1%. The identity of the only consortium exempted from compliance requirements, not explicitly named in the provided search results, remains unclear.

The average over-compliance of CO2 targets by manufacturers in 2022 was nearly 12 g/km, indicating a collective effort towards reducing carbon emissions. The average share of new light commercial vehicle registrations decreased by 18% in 2022 compared to 2021 across all EU manufacturers.

In conclusion, the shift towards EVs in Europe is a clear trend, with Norway leading the way. Despite the progress, there is still room for improvement, particularly in the area of compliance with emissions standards.