Breaking news

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.

Dell’s Earnings Beat Puts The AI Trade To The Test

Dell Technologies has become a key stock to watch after its latest earnings report strengthened the case for continued AI infrastructure spending but failed to trigger a sustained rally.

Shares jumped more than 13% after Tuesday’s opening bell before giving back much of the gain. By late morning Wednesday, the stock was up about 5%, raising questions about whether strong AI-related earnings are still enough to drive higher valuations.

Strong Results Meet A More Skeptical Market

The reaction echoes last week’s trading in Nvidia. Its shares climbed nearly 9% after strong quarterly results and a stronger long-term outlook, only to surrender much of the advance in subsequent sessions.

That pattern has encouraged some investors to reduce exposure to AI stocks. Strong results remain evident, but markets appear less willing to reward them with sustained valuation expansion.

Dell Raises 2027 Earnings Outlook

Three months ago, Dell shares surged almost 33% after the company raised its fiscal 2027 adjusted earnings-per-share guidance by 39%. Analysts followed by lifting their own estimates, while the stock retained most of its gains.

This time, Dell raised fiscal 2027 earnings guidance to $25.50 from $17.90, an increase of about 42.5%. Street consensus rose nearly 29% overnight, yet the stock was up only about 5% in Wednesday trading.

The weaker share-price reaction suggests investors are applying a more cautious valuation to Dell than they did in May.

AI Exposure Faces Greater Caution

We have been raising cash for the Club as the AI trade has become more volatile and less predictable. Tuesday’s decision to exit Corning increased our cash position to about 15%.

If capital is redeployed, it would likely favor more defensive areas outside AI. That reflects greater caution over valuations and positioning rather than a rejection of the AI investment theme.

Dell’s Trading Could Set The Tone

A further rise in Dell shares would suggest investors remain willing to increase AI exposure, while a flat performance would point to greater valuation discipline. A decline could indicate that much of the earnings upside is already priced in.

Dell’s report, along with Broadcom’s results due Wednesday evening, could still improve sentiment across the group. If investors continue to discount strong AI earnings, however, the case for a more defensive approach will strengthen.

For now, Dell offers a real-time test of whether strong AI-related earnings can continue to drive valuations higher as investor caution increases.

Aretilaw firm
eCredo
Uol
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter