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European automotive market shifts toward electric and hybrid

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2026-09-11 10:44 UTC → 2026-09-11 12:58 UTC · added ~~removed~~

European automotive markets are undergoing a structural shift toward electric and hybrid technologies, driven by high fuel costs and increased model availability. In July 2026, electric vehicle (EV) registrations rose by 13% year-on-year across 16 major European markets, representing 25.7% of total registrations. This trend is further evidenced by a 40.5% increase in EU electric vehicle sales during the first half of the year, a movement accelerated by rising oil prices following geopolitical tensions in the Middle East. In Greece, the transition was previously pronounced, with approximately 79.2% of July buyers opting for hybrid or electric models. However, the Greek market has recently faced new headwinds. Data from the Hellenic Statistical Authority indicates that total vehicle registrations in Greece fell by 18.7% in August compared to the previous year, totaling 12,598 units. This decline was especially significant in the new car segment, which dropped by 33.1%. Additionally, motorcycle registrations for engines over 50cc decreased by 7.1% during the month. Economic factors are contributing to this downturn, specifically a 25-basis-point interest rate increase by the European Central Bank. This hike is expected to raise financing costs for new and used vehicles, as well as leasing programs, which may cause consumers to delay purchases or seek cheaper models. Despite the August slump, the Greek market remained up 3.3% for the first eight months of the year, with 184,281 vehicles registered compared to 178,392 during the same period last year. Within this eight-month period, new car registrations rose by 2.5%, while used imports increased by 4.5%.

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