France electric vehicle market is expected to grow at a CAGR of 18.0% during the forecast period. Due to the COVID-19 pandemic, and lockdowns announced to control the spread of the pandemic, a negative effect on the overall industry was witnessed in the country in 2020. In the whole of 2020, the French vehicle sales declined by 25.5% YoY to 1.65 million as compared to 2.21 million units sold in 2019. The volume is the lowest since 1975 for the country. The downfall was witnessed even after the incentive of around $9.7 was announced by the French government to support the automotive industry.
However, in 2020, the electric vehicle has showcased a positive growth in the country. the HEV sales were increased by more than 58% in 2020 to 169,000. The share of HEV has increased to more than double to 10.3% in 2020 from 4.9% in 2019. Moreover, BEV showcased a growth of 160% in 2020, and volume reached nearly 111,000 and volume share from only 1.9% in 2019 to 6.7% in 2020.
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Similar trends were followed by PHEV, where the growth of nearly 300% in volume to 74,600 was witnessed with a market share of 4.5% in 2020 as compared to 0.8% in 2019. A major factor for the growth in the EV sales volume was the government subsidies as the customers wanted to take advantage of the incentives on the new and attractive EV models.
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Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Vehicle Type, By Propulsion Type, By Battery Type
- Competitive Landscape- Hyundai Motor Co., Nissan Motor Co., Tesla, Inc., Volkswagen AG, Renault SA
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
France Electric Vehicle Market Report Segment
By Vehicle Type
- Commercial Vehicle
- Passenger Car
- Two-Wheeler
By Propulsion Technology
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
By Battery Type
- NiMH
- Li-ion
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
