Growing EU trade of electric & hybrid cars

Between 2017 and 2023, EU trade of electric and hybrid cars increased substantially. In 2023, almost 43% of the total number of cars imported into the EU were electric or hybrid, indicating a significant increase compared with the share observed in 2017, which was 8%. EU exports jumped from 2% of the total number of cars exported in 2017 to 26% of the total in 2023 (+24 pp increase).

Non-plug-in hybrid cars went from 6% of the total EU car imports and 0.4% of EU car exports in 2017 to 18% and 11%, respectively, in 2023. Full electric cars represented 19% (+18 percentage points (pp) compared with 2017) of EU car imports and 11% of EU car exports (+10 pp) in 2023, and plug-in hybrid cars represented 6% (+5 pp) of EU car imports and 4% of EU car exports (+3 pp).

Source dataset: ds-045409

When looking at all 3 categories (full electric, plug-in hybrid and non-plug-in hybrid) between 2022 and 2023, there was a slight change: the share of non-plug-in hybrid cars in the total number of EU trade of electric and hybrid cars decreased, with imports and exports down by 3.4 pp and 2.3 pp, after being the biggest category in 2022. On the other hand, both imports and exports of full electric cars continued to increase (+4.3 pp and +1.6 pp, respectively).

In terms of value, in 2023, the EU spent €44.6 billion on imports from extra-EU countries on hybrid and electric cars, an increase of 21%, compared with 2022 (€36.9 billion). Imports of full electric cars were worth €20.2 billion, followed by non-plug-in hybrid cars (€15.5 billion) and plug-in hybrid cars (€8.9 billion).

Exports of the same products to extra-EU countries amounted to €62.1 billion in total value, +5% compared with 2022 (€59.1 billion). Also in exports, full electric cars ranked first in terms of value, with €29.4 billion, followed by non-plug-in hybrid cars with €22.5 billion and plug-in hybrid cars with €10.2 billion.

China: main import partner of electric cars

Electric cars were the largest category traded among the hybrid and electric cars in 2023, a change from 2022, when non-plug-in hybrid cars were the main category.

The top 3 extra-EU countries from which the EU imported electric cars were China, with €9.7 billion (corresponding to 48% of the total imports for electric cars), followed by South Korea (€4.3 billion) with a percentage share of 21% and the United Kingdom (€2.1 billion) with a 10% share.
The top 3 main extra-EU countries for exports were the United Kingdom and the United States, with a 24% share each (€7.1 billion and €6.9 billion, respectively), followed by Norway with 11% (€3.1 billion).

Source dataset: ds-045409