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European EV sales continue to surprise

Posted on - 08 May 2020

Category - Data update

European EV sales continued to surprise in March, hitting 84.3K units, a record level. Sales were up 82% y/y YTD for Q1/20. Unfortunately, it looks like the Covid-19 lockdowns will be felt in April, with most European countries going into lockdown towards the end of March. Commentators are split as to the duration of the lockdown impact however, with many erring on the side of bearish. However, we are not so worried, given the existing long waiting lists and order backlogs (due to battery shortages) for EVs in Europe.

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