The European automotive industry saw a glimmer of recovery in the first quarter of 2023, according to data from several major automotive markets. In March 2023, the combined sales of eight European countries (Britain, France, Sweden, Norway, Italy, Spain, Finland and Portugal) totaled 238,000 units, an increase of 69.2% year-on-year and 106.9% month-on-month, with a penetration rate of 22.4%.
This was attributed to the continuous relief of challenges from the supply chain, as the pandemic situation gradually improves.
The UK tightened electric vehicle incentive policies and saw a 16.6% year-on-year and 279.0% month-on-month increase in new energy vehicle sales with a penetration rate of 22.4%, while France proposed a leasing subsidy plan and saw a 221.6% year-on-year and 84.2% month-on-month increase in new energy vehicle sales with a penetration rate of 24.2%.
Norway introduced two new taxes applicable to pure electric vehicles and saw an 18.2% year-on-year and 163.2% month-on-month increase in sales, while Italy increased subsidies starting from 2023 and saw a 46.6% year-on-year and 47.5% month-on-month increase.
Sweden cancelled subsidies for electric vehicles, Spain implemented the MOVES Ⅲ plan to allocate subsidies for the purchase of electric vehicles, and Finland’s new energy subsidy policy remained effective. Portugal enjoys tax incentives for new energy vehicles,and Germany lagged behind due to the cancellation of PHEV subsidies.
article source: https://www.wissenergy.com/news/european-electric-vehicle-sales-surpass-expectations-in-q1-with-germany-seeing-a-35-increase-in-charging-stations/