Sales of new energy vehicles in Europe in November

On December 15, Deppon Securities released a research report on the new energy automobile industry. The report points out that the month on month growth rate is high and the policy is tightened.

The specific contents of the report are as follows:

In November 2022, the sales volume of eight European countries (Britain, France, Sweden, Norway, Italy, Spain, Finland and Portugal) totaled 133000 vehicles, with a year-on-year growth of 19%, a month on month growth of 28.8% and a penetration rate of 24.1%. In November, most new energy markets continued their subsidy policies, and Britain and Sweden tightened the preferential policies for electric vehicles.

UK: Tighten preferential policies for electric vehicles. In November, the sales volume of new energy vehicles was 40000, a year-on-year increase of 21.6%, a month on month increase of 37.2%, and the penetration rate was 27.7%, a year-on-year decrease of 0.4 percentage points. In the autumn budget, the British Ministry of Finance clearly proposed to levy vehicle consumption tax on electric vehicles from April 2025.

France: The rent subsidy plan is proposed, and the penetration rate is expected to continue to increase. In November, the sales volume of new energy vehicles was 33000, a year-on-year increase of 14.2%, a month on month increase of 16.7%, and the penetration rate was 24.5%, a year-on-year increase of 1 percentage point. France plans to launch an electric vehicle rental subsidy program, which will reduce the monthly rent of electric vehicles to 100 euros (about 685 yuan), lower than the gasoline cost of many traditional fuel vehicle users.

Norway: Provide tax relief and large public investment for electric vehicle charging infrastructure. In November, the sales volume of new energy vehicles was 17000, with a year-on-year growth of 25.1%, a month on month growth of 60.5%, a penetration rate of 89.3%, and a year-on-year decrease of 1.9 percentage points.

Italy: CO2 emissions of hybrid charging piles and electric vehicles subsidized by the government are between 21-60 g/km. In November, the sales volume of new energy vehicles was 12000, a year-on-year decrease of 5.3%, a month on month increase of 20.9%, and a penetration rate of 9.8%, a year-on-year decrease of 2 percentage points.

Sweden: Cancel subsidies for electric vehicles. In November, the sales volume of new energy vehicles was 17000, with a year-on-year increase of 44.5%, a month on month increase of 24.2%, and a penetration rate of 64.6%, with a year-on-year increase of 10.3 percentage points.

Spain: implement MOVES III plan and allocate subsidies for the purchase of electric vehicles. In November, the sales volume of new energy vehicles was 9000, with a year-on-year growth of 22.5%, a month on month growth of 21.0%, a penetration rate of 10.2%, and a year-on-year decrease of 0.6 percentage points.

Finland: The new energy subsidy policy continues to take effect. In November, the sales volume of new energy vehicles was 3000, with a year-on-year growth of 18.2%, a month on month growth of 16.7%, and a penetration rate of 46.1%, with a year-on-year growth of 8.8 percentage points.

Portugal: New energy vehicles enjoy tax incentives. The company's pure electric vehicles are exempt from corporate income tax, and plug-in hybrid vehicles enjoy reduced corporate income tax. In November, the sales volume of new energy vehicles was 4000, up 5.4% year on year, 20.1% month on month, penetration rate was 20.9%, down 10.6 percentage points year on year.