(MENAFN- AzerNews) The European passenger car market expanded 21% year-on-year in
August, marking the 13th straight month of growth, an industry
group report showed on Wednesday, Azernews reports, citing Anadolu Agency.
New passenger car registrations in the EU totaled 787,626 units
in August, the European Automobile Manufacturers' Association
(ACEA) said in a statement.
"Despite August typically being a slower month for car sales,
double-digit gains indicate that the EU market is rebounding from
last year's component shortages," it stressed.
Most markets registered double-digit percentage gains, including
the three largest: Germany (37.3%), France (24.3%), and Italy
The market share of battery-electric cars surpassed 20% for the
first time, overtaking diesel for the second time this year and
becoming the third-most-popular choice for new car buyers.
EU battery-electric car registrations jumped 118.1% from the
prior year to 165,165 units in August.
Hybrid-electric cars held their position as buyers' second
choice, with a 24% market share.
While gas-powered cars are still the most popular choice, the
market share fell from 38.7% in August 2022 to 32.7% this
In January-August, new car registrations in the 27-member bloc
grew substantially, 17.9%, reaching 7.1 million units.
Despite the year-on-year improvement, the market trails the
pre-virus level of 9 million units sold in 2019.
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