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What’s Holding Back Electric Car Sales In Greece And Boosting Hybrids

The shift from gasoline-powered cars to electric vehicles (EVs) in Greece has gained momentum in recent years, though challenges still persist. A telling sign of this transition is the noticeable drop in gasoline car sales in 2024. From 2023 to 2024, the share of gasoline vehicles in the Greek market dropped by 6.2 percentage points. In 2023, gasoline cars accounted for 41.9% of new registrations, but by 2024, that figure had fallen to 35.7%.

In contrast, hybrid vehicles—those combining an internal combustion engine and an electric motor—saw a significant surge in registrations, with their share increasing by 11.4 percentage points. Hybrids went from 30.9% of the market in 2023 to 42.3% in 2024. Hybrids have become the dominant choice for Greek consumers, offering a bridge between traditional gasoline-powered vehicles and fully electric ones. The key factor here is the lack of a robust charging infrastructure for electric vehicles in Greece, which makes it difficult for consumers to rely on electric cars for long-distance travel and ensures their practicality is limited.

Plug-in hybrids (PHEVs) and fully electric vehicles (EVs) also gained ground in 2024, seeing an increase in registrations by 1.1 percentage points. Their share grew from 11.3% to 12.4%. Meanwhile, diesel cars, once a dominant presence in Greece, saw a steep decline, with their market share dropping by 6 percentage points, from 13.1% in 2023 to just 7.2% in 2024.

Smaller shares were seen for LPG vehicles, which held steady at 2.5% of the market, and for natural gas cars, which have virtually disappeared from the market, dropping from 0.3% in 2023 to 0% in 2024.

Looking at European Union data for the period from January to November 2024, gasoline cars accounted for 33.7% of new car registrations, hybrids made up 30.7%, plug-in and fully electric cars combined reached 20.4%, while diesel cars dropped to 12.1%. LPG and natural gas vehicles together held a modest 3.1% of the market share.

Toyota’s Triumph – Tesla’s Challenge

The rise of hybrid cars has undoubtedly benefited manufacturers like Toyota, which have continued to invest in hybrid technology alongside their electric vehicle offerings. Even Tesla, which has long focused exclusively on electric cars, is monitoring this shift closely. In a recent financial report, the company acknowledged that the growing demand for hybrids has somewhat hindered the adoption of fully electric cars.

A significant factor contributing to the preference for hybrid cars is the higher upfront cost of electric vehicles. Even with subsidies in place, electric cars tend to be more expensive for consumers. This price differential, combined with concerns about the limited availability of charging stations, has made hybrid cars an appealing option.

Why Electric Car Sales Aren’t Soaring Globally

The reasons behind the slower-than-expected growth of electric vehicle sales aren’t limited to Greece. A study conducted by McKinsey, the 2024 Mobility Consumer Pulse, revealed that a large portion of electric vehicle owners in the US (46%) would consider switching back to an internal combustion engine (ICE) car in their next purchase. The survey, which included 37,000 consumers across 15 countries (including Australia, the US, Brazil, China, France, Germany, and Japan), found that 29% of respondents worldwide were considering abandoning their EVs.

Australia, in particular, had the highest percentage of electric vehicle owners (50%) expressing a desire to switch back to gasoline cars, driven primarily by concerns about vehicle autonomy and the lack of public charging infrastructure.

In Greece, too, charging infrastructure remains one of the key barriers to widespread electric car adoption. As per the McKinsey survey, 35% of electric vehicle drivers considering a switch to internal combustion engine cars cited the lack of charging points as a primary reason. An additional 21% said they found the stress of searching for available charging stations intolerable.

The Road Ahead

Despite these challenges, the shift towards hybrid and electric cars in Greece and globally is undeniable. Hybrid vehicles, for now, remain the practical choice for many consumers, acting as a stepping stone to fully electric mobility. However, for electric vehicles to gain mainstream acceptance, critical infrastructure improvements, such as more charging stations and longer battery ranges, are essential.

The future of mobility is electric, but the path to full electrification may take longer than expected, with hybrid vehicles continuing to play a pivotal role in the transition.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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