As the automotive industry undergoes a paradigm shift towards sustainable practices, electric vehicles (EVs) are increasingly becoming the leaders of this change. To confirm this trend, GiPA unveils its study conducted in the last quarter of 2023 specifically focusing on the EU5—France, Germany, Italy, Spain, and the United Kingdom— together with detailed data from Portugal and Poland.  

“We focused our research on a targeted geographical area to ensure a comprehensive understanding of the Battery Electric Vehicle (BEV) market, covering drivers patterns and preferences and offering a detailed view of the electric mobility landscape” said Jacques De Raucourt, GiPA Product Innovation Manager. Our analysis began with an examination of the different factors that influence the EV market in Europe to then compare these factors with sociodemographic data in order to understand their impact on the adoption of EVs.

GiPA EV Euro Study reveals several powerful outcomes on market trends and drivers behavior, providing a complete scenario of the current landscape and evolution of the EV trend. Among other insights, the study highlights information on: 

• Digital Adoption and Cost Efficiency: BEV owners are leaning heavily towards digital solutions and connectivity, driven by the promise of cost reductions. A significant 76.5% of respondents across the EU5+ acknowledged fuel savings as a primary motivator for purchasing EVs, reflecting a broader concern for operational costs which manufacturers could capitalize on to promote their cost-efficient models.

• Market Size: 4,7 million of EV cars (43% Plug-in hybrid, 57% Pure Electric) in EU5+ represents only 2,5% of the total car parc.

• Service and Maintenance Trends: the data shows a higher rate of Plug-in Hybrid Electric Vehicles (PHEVs) in after-sales service entries compared to BEVs. Notably, over 75% of owners prefer Original Equipment Supplier (OES) parts and services, pointing to a significant market preference.

Case Study: France

By analyzing the French market, the EV study reveals that the electric vehicle market presents a rapid year-over-year evolution, with an estimation of +30% growth in January 2024. However, the EV segment still represents less than 4% of the total car parc.

In line with other markets trends, French drivers’ main motivation for purchasing electric vehicles is economic benefits. 80% of the consumers interviewed highlighted “fuel savings” as their main incentive.

Within the study, GiPA analyzed vehicles as well charging patterns, where data reveals that 27% recharge their electric vehicles on a daily routine basis, emphasizing the usage of these vehicles into everyday life.

In the same way, French BEV owners show a strong preference for the use of public charging stations, reflecting the urge for the development of the country’s infrastructure to support EV adoption.

The EV Euro Study 2024 runs an in-depth analysis for each EU5+ countries, providing information and data as shown in the French case study.

“As the automotive landscape undergoes a significant transformation towards electrification, understanding these changes becomes crucial for every stakeholder in the industry.” Concludes Almudena Benedito, GiPA CEO, “This report is indispensable for anyone looking to make informed decisions and stay ahead in the fast-paced world of electric vehicles.”