European automotive market shifts toward electric and hybrid vehicles

The European automotive market is seeing a significant shift toward electric and hybrid vehicles, driven largely by high fuel costs and increased availability of affordable models. In 16 major European markets, which represent over 90% of EU and EFTA sales, electric vehicle (EV) registrations rose by 13% year-on-year in July, accounting for 25.7% of total registrations.

In Greece, the market is experiencing a structural shift in consumer preferences. Hybrid electric vehicles (HEV) dominated the Greek market in July, capturing 64% of the total share. Conversely, the market share for pure gasoline models dropped to 17.5%, while diesel models fell to just 1.0%. Battery electric vehicles (BEV) in Greece saw a 63.3% increase in July registrations. Additionally, SUVs continue to be highly popular, representing nearly 70% of new car preferences.