Trade in hybrid and electric cars increased ‘substantially’ between 2019 and 2023, new data from Eurostat has revealed, with more than two fifths (43%) of all cars imported into the EU either electric or hybrid.
This is a marked increase from 2017, when hybrid and electric cars accounted for a share of just 8% of imports, indicating the level to which demand for sustainable transport methods has grown.
In addition, EU exports of hybrid and electric cars also saw a significant rise, from 2% of the total number of cars exported in 2017 to 26% of the total in 2023.
Fully electric cars represented 19% of all EU imports in 2023, which is up 18 percentage points on 2017, while plug-in hybrid card accounted for 6% of imports, and non plug-in hybrid cars also accounted for 6% of imports.
Imports and exports
Expenditure on imports of hybrid and electric vehicles (EVs) into the European Union from non-EU countries reached €44.6 billion in 2023, which was a 21% increase compared to €36.9 billion in 2022 – partly explained by better value available in the marketplace.
Within this total, full electric cars accounted for €20.2 billion, while non-plug-in hybrids and plug-in hybrids contributed €15.5 billion and €8.9 billion, respectively.
Exports of hybrid and electric vehicles to extra-EU countries also grew, totalling €62.1 billion, which is a 5% increase from €59.1 billion in 2022.
Full electric cars once again led in value terms, generating €29.4 billion in exports, followed by non-plug-in hybrids at €22.5 billion and plug-in hybrids at €10.2 billion.
Imports from China
The top three extra-EU countries for electric car imports to the EU were China (€9.7 billion), accounting for 48% of total electric car imports; South Korea (€4.3 billion) at 21%; and the United Kingdom (€2.1 billion) with a 10% share.
In terms of exports, meanwhile, the United Kingdom and the United States were the leading partners, each holding a 24% share in total exports (€7.1 billion and €6.9 billion, respectively), followed by Norway, which accounted for 11% (€3.1 billion). Read more here.
