Part of EAFO’s Series on EV Market Trends Across Europe

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In 2024, Bulgaria experienced a 20.5% decline in new electric vehicle (EV) registrations, with a total of 2,451 new EVs sold, down from 3,085 in 2023. Despite this drop in new EV registrations, the total number of EVs on Bulgarian roads grew significantly, increasing by 53.5% to 19,020 vehicles, highlighting the rising adoption of used EVs and hybrids.

Key Figures for 2024:

• New EV registrations: 2,451 (-20.5% YoY)
• Total EV stock: 19,020 (+53.5% YoY)
• Bulgaria's total vehicle fleet: 3,687,039 (+3.67% YoY)
  • Diesel vehicles: 2,018,308 (+4.0%)
  • Petrol vehicles: 1,119,701 (+0.5%)
  • Hybrids (petrol): 60,793 (+53.6%)
  • Hybrids (diesel): 1,966 (+17.3%)

Best-Selling EV Models:

The Tesla Model Y led new EV sales with 85 registrations, followed by:

1. Tesla Model 3: 78
2. Volvo EX30: 77
3. Hyundai Kona: 76
4. Dacia Spring: 73

Highlights of the Used EV Market:

The used EV market demonstrated robust growth:

• Used EV registrations: 4,996 (+64.3% YoY)
• Used hybrid (petrol) registrations: 7,360 (+73.2% YoY)
• Used hybrid (diesel) registrations: 2,208 (+45.7% YoY)

Total New Vehicle Market:

Bulgaria's total new vehicle market grew by 10.3%, with 62,475 vehicles registered in 2024:

• Petrol vehicles: 19,469 (+3.4%)
• Diesel vehicles: 13,808 (+2.8%)
• Hybrids (petrol): 14,878 (+48.7%)

Challenges and Opportunities:

While the decline in new EV registrations reflects a challenging year for Bulgaria's EV market, the growth in overall EV stock indicates a positive trend driven by the used vehicle market and hybrid adoption. This shift demonstrates increasing consumer interest in sustainable mobility, albeit at a slower pace.

The year also highlighted regional disparities and the potential for targeted policies to boost EV adoption further. A lack of significant EV incentives, limited infrastructure, and affordability challenges for new EVs may have contributed to the slower uptake.

Outlook for 2025:

The Bulgarian market's transition to electromobility will rely on:

1. Expanding public charging infrastructure: To make EV ownership more viable.
2. Incentives for new EVs: To address the price gap and encourage adoption.
3. Focus on used EV imports: As a bridge for budget-conscious consumers to enter the EV market.

With a steady increase in the national vehicle fleet, the shift toward electrification and hybrids positions Bulgaria for further growth in its sustainable mobility journey.

Source:

• Sofia Directorate of Internal Affairs (SDVR)

Views and opinions expressed are those of the author(s) and do not reflect those of the European Commission.