Chargeable cars take 10pc share of EU new sales in 3Q

Almost one in 10 new cars sold in the EU in the third quarter was chargeable, substantially reducing the market share of cars fuelled by internal combustion.

Registrations of electrically-chargeable vehicles more than tripled from a year earlier, courtesy mainly of government incentives, to almost 275,000 and giving a market share of 9.9pc. With hybrid electric vehicles doubling market share to around 12pc from a year earlier, demand for new cars fuelled only by gasoline or diesel took a hit.

The market share taken by conventional internal combustion fell to around 75pc in the quarter from nearly 89pc a year earlier. Diesel new car sales fell by around 14pc to around 766,000, while gasoline new car sales fell by 24pc to 1.3mn. This pushed the market share of the latter to below 50pc for the first time in four years. Diesel new car sales had a share of around 28pc.

This data, from the European Automotive Manufacturers Association (ACEA), adds to the bleak outlook facing European refiners, which are already struggling with weaker demand because of Covid-19 restrictions in place in many of the region's high-demand countries. Margins on road fuels are low, while many refiners are operating at a loss.

The ACEA said that demand slowed for cars running on alternative fuels, including LPG and gas, although the sector's market share remained steady at 2.3pc.

By Ben Winkley