New EU car registration in October 2024 saw a 1.1% rise, marking a turnaround from previous declines, according to the European Automobile Manufacturers’ Association’s (ACEA) latest data.
This growth comes after a period of decline, with Spain and Germany leading the charge with increases of 7.2% and 6%, respectively.
Despite the overall stability in new car registrations ten months into 2024, with a 0.7% increase reaching 8.9 million units, the performance varied significantly across key markets.
France and Italy experienced significant drops in registrations.
The battery-electric car market maintained a steady market share last month, but year-to-date figures showed a decrease in both volume and market share.
Plug-in hybrid registrations also fell by 7.2%, with market share dipping by 7.2% compared to the previous year.
Battery-electric vehicle registrations rose slightly in October, yet the year-to-date figures remained lower than the previous year, largely due to a sharp decline in Germany.
Plug-in hybrid registrations suffered a drop of 7.2%, with France and Italy seeing the most significant decreases. Conversely, hybrid-electric vehicle registrations surged by 17.5%, with market share overtaking petrol car registrations for the second consecutive month.
Petrol car sales experienced a downturn across the board, with France facing the most severe decline by 32.7%. Germany stood out as the only major market to report growth in petrol car registrations.
Diesel car sales also declined, with the market share shrinking to 10.9% in October. This downturn was observed in almost two-thirds of EU markets, indicating a broader shift in consumer preferences within the automotive sector.
“EU car registrations logs slight growth in October 2024” was originally created and published by Motor Finance Online, a GlobalData owned brand.
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