In 2023, Italy led the European market with 1.76 million hybrid electric-petrol passenger cars, showcasing a 48.98% year-on-year growth. France and Spain experienced significant growth, at 33.57% and 34.02% respectively, while Germany remained stable. Noteworthy are the vigorous growth rates in Denmark (90.76%) and Latvia (70.36%). Norway and Ireland stabilized with minimal change. Smaller markets like Luxembourg and Switzerland had a strong boost, indicating expanding market penetration of hybrids across Europe.
The forecast for 2024 suggests continued growth in hybrid vehicle uptake, driven by sustainability commitments and regulatory incentives. Watch for potential market accelerations in Eastern Europe and shifts in consumer preferences towards environmentally friendly technologies.
Top countries in Number of Hybrid Electric-Petrol Passenger Cars by Country
| # | 10 Countries | Units | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 1,759,700 | 2023 | +30.85% | +48.98% | View data |
| 2 | 2 France | 1,377,100 | 2023 | +24.06% | +33.57% | View data |
| 3 | 3 Germany | 1,316,000 | 2023 | +24.42% | View data | |
| 4 | 4 Spain | 999,900 | 2023 | +24.85% | +34.02% | View data |
| 5 | 5 United Kingdom | 857,350 | 2021 | View data | ||
| 6 | 6 Netherlands | 540,690 | 2023 | +24.19% | +28.51% | View data |
| 7 | 7 Belgium | 410,760 | 2023 | +29.26% | +38.33% | View data |
| 8 | 8 Sweden | 240,180 | 2023 | +11.51% | +22.54% | View data |
| 9 | 9 Ireland | 167,440 | 2023 | +22.36% | View data | |
| 10 | 10 Norway | 157,780 | 2023 | +25.6% | +1.49% | View data |
Latest reports
US Electric Vehicle Market Report- Q4 2024
The fourth quarter of 2024 marked a significant period for the Electric Vehicle (EV) market in the United States, characterized by robust growth...
China Electric Vehicle Market Report- Q4 2024
In the fourth quarter of 2024, China's electric vehicle (EV) market continued to dominate the global landscape, capturing an unprecedented 76% of market...
Japan Electric Vehicle Market Report- Q4 2024
Japan's electric vehicle (EV) market experienced significant momentum in Q4 2024, driven by advancements in technology, strategic partnerships, and supportive government policies. The...
Germany Electric Vehicle Market Report- Q4 2024
The German electric vehicle (EV) market is experiencing significant transformations as it navigates various economic and regulatory challenges. Despite a slight economic downturn...
India Electric Vehicle Market Report- Q4 2024
In the fourth quarter of 2024, the electric vehicle market in India experienced dynamic growth, fueled by advancements in battery technology, increased consumer...
UK Electric Vehicle Market Report- Q4 2024
The fourth quarter of 2024 marked a pivotal period for the UK electric vehicle (EV) market, characterized by robust growth in battery electric...
France Electric Vehicle Market Report- Q4 2024
The fourth quarter of 2024 witnessed significant developments in the Electric Vehicle (EV) market in France, characterized by dynamic changes driven by consumer...
Canada Electric Vehicle Market Report- Q4 2024
The electric vehicle (EV) market in Canada continues to experience significant growth in Q4 2024, driven by advancements in technology, strategic government incentives,...
Brazil Electric Vehicle Market Report- Q4 2024
The electric vehicle (EV) market in Brazil during the fourth quarter of 2024 experienced notable growth across various segments, driven by increased urban...
Italy Electric Vehicle Market Report- Q4 2024
The electric vehicle (EV) market in Italy during the fourth quarter of 2024 is characterized by a mix of challenges and opportunities, primarily...
