EU BEV sales up again in third quarter

Wendy McCague — Thu, 03 Nov 2022 15:01:11 +0000

The market share of battery electric vehicles (BEVs) in the EU increased further during the third quarter of this year.

BEVs now account for 11.9% of total EU passenger car registrations (up from 9.8% in Q3 2021). Hybrid electric vehicles also gained market share –making up 22.6% of all sales (up from 21.2% in the third quarter of 2021). Despite losing market share, diesel- and petrol-powered vehicles still dominate the market, with a combined share of 54.3%.

From July to September 2022, registrations of petrol cars in the EU slipped by 3.3%, counting 823,360 units. As a result, the market share of petrol shrank from 39.3% in the third quarter of 2021 to 37.8% this year. Nonetheless, petrol remained the most popular fuel type in the EU.

Similarly, sales of diesel cars decreased by 4.7% to 360,596 units sold across the European Union. Diesel’s market share fell by almost 1 percentage point to 16.5% of total sales (down from 17.5% in Q3 2021).

During the third quarter of 2022, battery electric vehicles (BEVs) recorded the strongest growth of all fuel types (+22.0%), with 259,449 units registered across the EU. With the exception of Denmark (-2.6%) and Italy (-35.0%), all the region’s markets contributed to this positive performance, with even triple-digit gains in Cyprus (+490.0%), Latvia (+231.8%), Romania (+213.4%) and Bulgaria (+101.7%).

Registrations of plug-in hybrid electric vehicles (PHEVs), on the other hand, fell by 6.0% in the third quarter of the year, as all the largest markets in the EU posted losses. Italy and France both recorded double-digit drops (-22.2% and -14.3% respectively), while Germany and Spain posted more modest declines (-0.9% and -1.0%). As a result of this negative performance, PHEVs lost market share compared to the same period last year, now accounting for 8.5% of total car registrations.

With 492,011 units sold from July to September, sales of hybrid electric vehicles (HEVs) increased by 6.9%. Their market share expanded by 1.3 percentage point – making up 22.6% of the total market. Among the region’s major markets, only Germany posted a decline (-1.5%). Italy saw the strongest increase (+20.8%), followed by France (+15.6%) and Spain (+11.3%).

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Oil price falls below $100 but UK fuel hits new high

Linda Stewart — Tue, 15 Mar 2022 14:32:26 +0000

UK motoring groups have called for fuel prices to fall as the cost of crude oil fell to its lowest level for two weeks.

The price of Brent crude – the global benchmark for prices – has fallen below $100 a barrel for the first time since the start of March.

The RAC has said it is “vital” that fuel retailers start passing on falling wholesale prices to consumers.

Petrol prices hit another record high on Monday, meaning it costs more than £90 to fill a family car, the RAC said.

The average price of a litre of petrol rose to 163.71p on Monday, and diesel also hit a fresh record of 173.68p.

Oil prices soared after Russia invaded Ukraine, with the price of Brent crude oil hitting a near 14-year high at one point.

But in the past few days, the price of oil has dropped due to a number of factors, including hopes of progress in ceasefire talks between Russia and Ukraine, and also expectations that demand from China will ease as Covid cases there surge.

Brent crude fell to about $98 a barrel on Tuesday.

RAC fuel spokesman Simon Williams said that although petrol prices were at record highs, drivers “should be encouraged” by the fall in oil and wholesale prices.

“It’s now vital that the biggest retailers who buy fuel most often start to reflect these reductions at the pumps to give drivers a much-needed break from the pain of constantly rising prices,” he added.

The AA said that the wholesale price of petrol has plummeted by 12.8p a litre since Wednesday.

Luke Bosdet from the AA said: “We should be seeing these record prices level off and start to fall away later this week. If not, MPs who are being deluged by complaints from angry constituents, need to be asking questions in Parliament.

“The government is under intense pressure from the cost of living crisis. They don’t need the fuel trade to ‘feather’ a potential drop in pump prices.”

The Petrol Retailers Association, which represents independent forecourts, said it would expect prices to fall when fresh stock is delivered.

Gordon Balmer, the PRA’s Executive Director, said forecourts bought from suppliers based on a price with one or two days’ lag, or in some cases a week’s lag. This means it can take a few days for wholesale prices to filter through to the pumps.

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EU BEV sales up again in third quarter

Oil price falls below $100 but UK fuel hits new high