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OIL PRODUCTS: EVs Could Reach 24% of EU Car Market Share by 2025: T&E

OIL PRODUCTS
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Battery electric vehicles sold in the EU are set to reach a total market share of 20%-24% by 2025, mostly because of cheaper selling prices, campaign group T&E said Sep. 17.

  • EV sales in the EU have slowed in recent months to a 14% market share in H1 2024, partly due to diverging policies on green incentives across the bloc.
  • Germany, the EU’s largest EV market, introduced incentives to speed up the green transition in September.
  • The new projections consider the expected arrival of cheaper EV models which will constitute around 10%-15% of the market.
  • A further uplift in market share for EVs is likely to add additional pressure to gasoline demand, which is already seeing pressure from the move to alternative energy sources.
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Battery electric vehicles sold in the EU are set to reach a total market share of 20%-24% by 2025, mostly because of cheaper selling prices, campaign group T&E said Sep. 17.

  • EV sales in the EU have slowed in recent months to a 14% market share in H1 2024, partly due to diverging policies on green incentives across the bloc.
  • Germany, the EU’s largest EV market, introduced incentives to speed up the green transition in September.
  • The new projections consider the expected arrival of cheaper EV models which will constitute around 10%-15% of the market.
  • A further uplift in market share for EVs is likely to add additional pressure to gasoline demand, which is already seeing pressure from the move to alternative energy sources.