The new energy vehicle market in Europe has risen in the past two years. In eight European countries, mainly Germany, France, Britain, Norway, Italy, Sweden, Spain and the Netherlands, the annual sales volume of new energy vehicles in 2021 was about 1.95 million, with a year-on-year increase of about 65%. The annual penetration rate of new energy vehicles was about 21%, and the annual market penetration rate of new energy vehicles in Norway even reached 70%. From the analysis of major markets, except Italy and Spain, which are still at 10% market penetration, major countries have jumped to 20% market penetration; Sweden and Norway are two Nordic countries with high penetration rate due to their relatively small base.
From the latest European new energy vehicle sales market, the nine European countries sold 126000 vehicles in February 2022, which was basically the same as that of the previous month, with a year-on-year increase of 31.4% and a penetration rate of 21%. It is estimated that the sales volume of new energy vehicles in Europe is expected to reach 3 million in 2022, with a year-on-year growth rate of 46%, corresponding to the annual penetration rate of 30%. It is expected to reach 6 million vehicles in 2025. Among them, Germany sold 50000 vehicles in February this year, far ahead, with a penetration rate of 24.9%. In February, the sales volume of new energy vehicles in Germany was 50000, with a year-on-year increase of 24.2%, a month on month increase of 25.4%, a penetration rate of 24.9%, and a year-on-year increase of 4.2pcts.
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