In January 2024, the EU new automotive market rebounded from the slowdown skilled in December 2023, with year-on-year automotive registrations growing by 12.1% to 851,690 items.
Notably, the bloc’s main markets all noticed important progress, with Germany (+19.1%), Italy (+10.6%), France (+9.2%), and Spain (+7.3%) reaching both excessive single-digit or double-digit positive aspects.
In January, battery electrical vehicles accounted for 10.9% of the market share (up from 9.5% in January 2023), whereas hybrid-electric vehicles commanded a share of practically 30%, solidifying their place because the second most most popular selection amongst EU automotive patrons. The mixed market share of petrol and diesel vehicles totalled nearly 50% in January 2024, marking a decline from 54% one yr in the past.
In January 2024, new battery-electric automotive gross sales surged by 28.9% to 92,741 items, representing a complete market share of 10.9%. The 4 largest markets within the area – collectively masking 66% of all battery electrical automotive registrations – recorded sturdy double-digit positive aspects: Belgium (+75.5%), the Netherlands (+72.2%), France (+36.8%), and Germany (+23.9%).
New EU registrations of hybrid-electric vehicles elevated by 23.5%, propelled by important progress within the 4 largest markets: Spain (+26.5%), France (+29.9%), Germany (+24.3%), and Italy (+14.2%). This led to the sale of 245,068 items within the first month of 2024, representing 28.8% of the EU market share.
Gross sales of plug-in hybrid electrical vehicles rebounded after a decline in December 2023, rising by 23.8% to 66,660 items in January 2024. This progress was primarily pushed by important will increase in key markets reminiscent of Belgium (+65.2%) and Germany (+62.6%). Consequently, plug-in hybrid electrical vehicles now characterize 7.8% of whole automotive gross sales within the EU.
In January 2024, the EU petrol automotive market expanded by 4%, propelled by notable will increase in key markets reminiscent of Italy (+26.7%) and Germany (+16.9%). Regardless of sustaining its lead with 35.2% of the market in January, the share of petrol vehicles decreased from 37.9% in the identical month in 2023.
Conversely, the EU diesel automotive market contracted by 4.9% in January. This decline was evident in a number of markets, together with three of the biggest: France (-23.4%), Spain (-10.2%), and Italy (-8.7%). Nevertheless, Germany diverged from this pattern with a 4.3% progress charge. In January 2024, diesel automotive gross sales reached 114,415 items, accounting for a market share of 13.4%, down from 15.8% in 2023.
[source: ACEA]
Feb 21, 2024