European EV Sales Soar as High Oil Prices and Affordable Models Drive Consumers to Switch

European electric vehicle sales are accelerating as high oil prices, subsidies, and affordable models drive consumers to ditch their combustion-engine cars. In July, EV registrations rose 13% year-on-year across 16 markets in Europe, accounting for 25.7% of all new car sales.

Renault UK managing director Adam Wood said people are looking for ways to protect themselves from volatility in fuel prices and EVs are a great way to do that. The company's revived Renault 5 model was Britain's best-selling electric car last month, with a range of up to 250 miles. A new electric Twingo will start at less than £20,000 and could qualify for UK government subsidies.

According to industry data, EV sales in the European Union rose 40.5% in the first half of the year versus the same period in 2022 to more than 1.2 million cars, accounting for 20.7% of all sales. Buying an EV is 'the best decision I ever made' said Charlotte Merrell, a 32-year-old who just bought her first electric Renault Megane.