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Record fuel prices push European consumers toward EVs

In August, battery electric vehicle sales across Europe rose 52.2% year over year, with Germany’s BEV sales up 75% as gasoline hit an all time high of 2.31 euros per liter.

Reported · Written up by our desk · Energy

OilPrice reports that record-high gasoline and diesel prices in parts of Europe are shifting consumer choices away from traditional fuel cars and toward low-emission vehicles.

According to data from the European Automobile Manufacturers’ Association, ACEA, battery electric vehicle sales in Europe, including the UK, Switzerland, and Norway, jumped 52.2% in August from a year earlier, as drivers moved toward battery and hybrid vehicles.

In Germany, the biggest European car market, BEV sales surged 75% in August versus the same month a year earlier. The outlet also cites gasoline prices in Germany reaching an all-time high of 2.31 euros per liter, roughly equivalent to about $10 per gallon.

ACEA data cited by OilPrice shows that year to date, battery-electric cars held a 21.7% share of the EU market, up from 15.8% a year earlier. Hybrid-electric registrations accounted for 36.6% of the market, while the combined share of gasoline and diesel cars fell to 29% from 37.5% a year earlier.

Latest closeGasoline (RBOB) $3.379 ▼5.8%

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