Europe’s passenger electric vehicle (EV) sales climbed over 34% YoY in Q4 2022 to reach a total of over 2.7 million units in 2022, according to the latest research from Counterpoint.
In the quarter, EVs contributed over 29% of Europe’s total passenger vehicle sales. Battery EVs (BEVs) continued to increase their share, growing by 36% YoY to account for almost 63% of all EV sales, while plug-in hybrid EVs (PHEVs) accounted for the rest.
By region, Germany copped the largest share of Europe's EV market with almost 39% of total sales, followed by the United Kingdom and France. Germany also remained Europe’s fastest-growing EV market in Q4 2022 with 75% YoY growth, while Norway and Sweden had the highest overall EV penetration.