The European Union’s new car market saw a slight uptick in July 2024, with a modest 0.2% increase in registrations. However, this overall growth was unevenly distributed across the region’s four largest markets. Italy and Spain experienced moderate gains of 4.7% and 3.4%, respectively, while France and Germany saw declines of 2.3% and 2.1%.
For the first seven months of 2024, new car registrations in the EU increased by 3.9% to reach over 6.5 million units. This growth was primarily driven by a low comparison base from the previous year. All of the bloc’s largest markets recorded positive, albeit modest, growth, with Spain leading the way at 5.6%.
Battery-electric vehicles (BEVs) accounted for 12.1% of the EU car market in July 2024, down from 13.5% a year earlier. While BEV registrations saw a decline of 10.8% to 102,705 units, hybrid-electric vehicles (HEVs) continued to gain traction, with their market share increasing from 25.5% to 32%. The combined share of petrol and diesel cars fell to 46% from 50%.
Plug-in hybrid (PHEV) registrations declined by 14.1% in July 2024, despite a small increase in Germany. PHEVs accounted for 6.8% of the market, down from 7.9% a year ago.
Diesel cars also experienced a decline of 10.1%, representing 12.6% of the market in July. While Germany saw a slight increase, other major markets like Italy, France, and Spain suffered significant declines.
Petrol cars remained the most popular choice in July 2024, although their market share decreased to 33.4% from 35.9% a year earlier. While key markets like Italy and Germany saw modest growth, declines in France and Spain contributed to the overall decrease.
[source: ACEA]
