French Electric Vehicle Sales Hit 2024 Low in July Amid Broader Automotive Slump

According to data released by the French Ministry of Environment, new registrations of electric vehicles (EVs) in France saw a noticeable decline in July, marking the lowest point in 2024 so far. A total of 17,466 EVs were registered last month, showing a slight increase from 17,251 in July 2023, but a significant drop compared to earlier months this year. As a result, the market share of EVs fell by 3.1 percentage points, making up 13.5% of all new vehicle sales.

The weak performance was not limited to fully electric vehicles. Registrations of plug-in hybrid vehicles also reached their lowest level of the year, with only 9,224 units sold, a sharp drop of 33% from June and 29% from July 2023. The market share for plug-in hybrids also saw a slight decrease, falling by 0.4 percentage points to 7.1%.

Diesel vehicles, once dominant in the French market, continued their downward trend, with registrations dropping by 25% year-on-year to 9,426 units. Overall, new vehicle registrations in France decreased by 1% compared to the same period last year, totaling 129,425 units.

This downturn comes as France pushes for a major shift towards electric mobility. In May, the French government signed a strategic contract with the automotive sector, setting an ambitious target to quadruple the sales of electric passenger cars by the end of 2027. Despite these efforts, the immediate outlook for the EV market remains challenging, as the figures suggest that consumer demand may not yet be aligning with government targets.

As of the end of June, France had over 138,000 public charging stations for EVs, and more than 1.8 million electric and plug-in hybrid vehicles on the road, an increase from about 1.5 million in 2023. These infrastructure improvements, coupled with government incentives, are crucial for driving future growth in the EV market. However, the recent slump indicates that achieving the 2027 targets will require sustained efforts to boost consumer adoption of electric vehicles.

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