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.

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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.