In September, new car registrations across the European Union took a significant hit, primarily driven down by disappointing figures reported from major markets like France, Italy, and Germany. However, Spain managed to stand out with a positive performance.
According to the latest statistics from the Association of European Automobile Manufacturers (ACEA), new car registrations in the EU fell by 6.1% last month, with Italy recording a dramatic decline of 10.7%, France suffering an 11.1% drop, and Germany experiencing a 7% reduction. Conversely, Spain’s new car registrations rose by 6.3%, defying the overall downward trend.
Looking at the year-to-date figures, Germany saw a mild decline of 1% in new car registrations, while France’s figures slipped by 1.8%. Surprisingly, Italy experienced a growth of 2.1% in new car registrations for the same period, closely following Spain’s increase of 4.7%.
In September 2024, the car market in the EU comprised 29.8% petrol vehicles and 10.4% diesel models. Meanwhile, battery electric vehicles (BEVs) constituted 17.3% of the market, and hybrid electric vehicles (HEVs) climbed to a substantial 32.8%. Furthermore, plug-in hybrid electric vehicles (PHEVs) accounted for 6.8% of the EU automotive market.
Surge in Battery Electric Vehicle Registrations
New registrations of battery electric vehicles surged by 9.8% in September, totaling 139,702 units. This uptick can likely be attributed to the tightening environmental regulations taking effect across Europe.
Despite this growth in September, the overall market volume for battery electric vehicles declined by 5.8% during the first nine months of the year, potentially due to price barriers that still challenge first-time buyers. With the EU recently increasing tariffs on imported electric vehicles from China, the cost of battery electric vehicles may rise even further in the coming months.
Similarly, hybrid electric car registrations soared by 12.5% last month, boosting their market share from 27.4% in September 2023 to 32.8% this year. In contrast, registrations for plug-in hybrid electric vehicles fell sharply by 22.3%, with declines noted across all key markets. Their market share decreased from 8.2% in September 2023 to 6.8% last month, representing just 54,889 units.
Decline in Petrol Car Sales
The sales of petrol cars took a nosedive, dropping by 17.9% in September 2024 due to poor performance across major markets. Italy reported a staggering 23.3% decrease in petrol car sales, while Germany experienced a drop of 15.2%. France saw even steeper declines at 31.9%, and Spain’s petrol car sales fell by 10.7%.
The market share for petrol cars deteriorated from 34% in September 2023 to 29.8% in September 2024, indicating a significant shift in consumer preferences towards alternative fuel options.
Photo credit & article inspired by: Euronews
