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.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.