Spain’s Electric Car Registrations Soar 158%, But Remain Below Target

(Bloomberg) -- Registrations of fully electric powered vehicles surged in the first two months of the year, though they remain below government objectives.

Fully electric vehicle registrations rose to 2,385 in February from 926 a year ago, representing a 158% increase from a year earlier and making up 3.84% of the vehicle market in Spain, according to a report from the Madrid-based industry group ANFAC published Tuesday.

The market share of electric vehicles has more than doubled over the past year, though the number of total electric registrations are far behind the amount needed to reach the target of 3 million by 2030.

For the entire electrified vehicle category, market share was around 40% in February, 10 percentage points higher than the same period last year.

“We need to go faster, with a bigger boost to the charging infrastructure, so as to not be left behind,” José López-Tafall, Director General of ANFAC said. “Users see it as an increasingly realistic alternative, but it should not be ignored that the volumes are far from what would be necessary to meet the objectives set out in the national plan.”

The global auto industry continues to struggle with supply chain issues and shortages, while Spain's new vehicle market, although growing, remains 38% lower than the same month of 2019, prior to the start of the coronavirus pandemic.

Overall vehicle registrations rose 6.6% from a year earlier to 68,103 units, a separate report released today showed. Year to date, registrations rose 4.2%, though remain around half of the level from February 2019.