00:00Europe just posted its strongest month of EV growth this year. And the numbers tell you
00:06exactly where this market is heading. In July, 288,000 full electric cars were registered across
00:12Europe. That is up 51% compared to July last year. 51%. This is the fastest year-over-year
00:21growth rate of 2026 so far. And it pushed pure electric cars to 26% of the entire European
00:29new car market for the month. Think about that. More than one in four new cars sold in Europe in
00:35July had no engine, no fuel tank, no exhaust pipe. I'm not talking plug-in hybrids either. This is
00:40fully electric cars. For the year to date, battery electric vehicles are sitting at 23% market share.
00:46That's already higher than the 20% Europe finish for the whole of 2025. And the second half of the
00:51year is traditionally stronger for EV sales. So that number is only going to increase.
00:58Now, here's what makes July genuinely significant. Tesla was down 36% year-over-year in the month.
01:05It was one of those months where, you know, they don't have ships with cars delivering. And yet,
01:10the overall EV market still jumped by 51%. Europe's transition is no longer riding on one single
01:19company. In fact, far from it. The Model 3 delivered just 461 cars in Europe in July, down 85%. But
01:26that
01:26was actually a stock shortage. We had the same problem here in Australia, not a demand collapse.
01:31It's expected to bounce back hard in August and September. Meanwhile, the Tesla Model Y is still
01:37Europe's best-selling EV for 2026 overall, with 115,760 registrations in the first seven months,
01:46up 55%. This year, Tesla Model Y sales have grown 55% in Europe. That's even without the Tesla Model
01:53YL,
01:54the stretched version, which I think will push those sales up even more over the final coming months of
01:58this year. But the July podium was actually all European. The Skoda Elroc was the best-selling
02:04electric car for the month, with just under 10,000 registrations, followed by the Volkswagen ID.4
02:10and the Renault 5. The Elroc only went on sale in late 2024, and it's already sitting second for the
02:17year with 67,700 units. Skoda, second place for the entire year. And Skoda is about to launch the
02:25Epic, a smaller, cheaper electric crossover, which will push volumes even further down the price ladder,
02:32which is good news. What's driving all of this? Well, three things. There is a wave of new,
02:39cheaper models, not necessarily Chinese. Another thing, high petrol prices, and diesel,
02:45and Chinese brands arriving in volume as well. The country-by-country numbers show where this
02:51actually ends up. Norway is at 98% electric. Denmark, 80%, but for private buyers, it's at 97%.
02:59Finland, 53%. The Netherlands, 47%. Sweden and Belgium, both 43%. France hit 35% in July,
03:08with over 44,000 registrations. The Laggards, Italy, way behind, kind of like United States-type
03:15numbers, at only 6%. And Chechia at 8%. So some European markets will be effectively 100% electric by 2030,
03:24while others will take closer. Maybe they might get there around 2035, maybe even 2040, potentially.
03:31But the direction here is very clear. It's very locked in. When the market grows 51% in the same
03:36month, its biggest player falls 36%. Talking about Tesla. Well, that's not a trend anymore. That's a
03:43transition. I mean, imagine if Tesla had been in its normal delivery numbers. These figures would be
03:48significantly higher, maybe 60% versus last year. What are your thoughts? Let me know in the comments.
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