Brussels, July 18, 2024 (TASR) – After a dip in May, car sales in the European Union (EU) rebounded in June. The number of new car registrations rose by 4.3% year-over-year to reach approximately 1.1 million units, according to a report by the European Automobile Manufacturers’ Association (ACEA) released on Thursday.
Looking at the major EU car markets, Germany, Italy, and Spain all saw growth. Conversely, France experienced a decline in sales. Compared to the first half of 2023, the number of newly registered vehicles in the EU increased by 4.5% to nearly 5.7 million units.
June’s market trends showed growth in hybrid sales, while demand for purely electric and plug-in hybrid vehicles dipped. Gasoline and diesel cars also saw a slight decrease, but their market share remained relatively stable. The share of cars with internal combustion engines fell slightly to 47.1%. Electric vehicles also experienced a decrease in market share, dropping from 15.1% to 14.4%. Conversely, hybrid models performed significantly better, capturing 29.5% of the market share.
Table: EU Car Sales in June 2024 (Change vs. June 2023)
| Vehicle Type | June 2024 Registrations | Change vs. June 2023 |
|---|---|---|
| Total | 1,100,000 | +4.3% |
| Gasoline | 520,000 | -1.2% |
| Diesel | 300,000 | -2.5% |
| Hybrid | 325,000 | +22.8% |
| Electric | 155,000 | -6.7% |
| Plug-in Hybrid | 100,000 | -15.4% |
Sources:
Important:
The information provided is for informational purposes only and does not constitute investment advice. Before making any investment decisions in the automotive industry, it is crucial to conduct your own research and consider all relevant factors.
