European electric car sales overtake gasoline while e‑bike market stalls

In May 2024 electric cars became the first‑time best‑selling vehicle type in Europe, capturing 23.3 % of registrations versus 21.7 % for gasoline cars. About 1.15 million new cars were registered, a 3.6 % increase from the previous year. The strongest growth came in Italy (+75.7 %), France (+55.4 %) and Germany (+40.9 %). Tesla led the surge, nearly doubling its European sales, with the Model Y the top‑selling EV. Chinese manufacturers also expanded their presence; BYD became the leading Chinese brand in May, overtaking MG, while Chery, Leapmotor, Geely and Xpeng posted strong gains.

At the same time, the rapid rise of electric bicycles in Europe is easing. After years of double‑digit growth, e‑bike sales have plateaued, with market share stabilising around 40 % of all bicycle sales. Germany, once accounting for about half of European e‑bike revenue, shows signs of saturation, and Slovenia’s share has slipped below a quarter of its national bike market. Analysts attribute the slowdown to reduced demand after the pandemic‑driven surge and to market‑wide inventory adjustments. Future growth will likely depend on innovation, pricing and ancillary services rather than plain volume expansion.