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European passenger car market sees 1.9 percent decline last month
(MENAFN) The European passenger car market saw a decline of 1.9 percent in November compared to the previous year, reversing the growth that was recorded in the prior month. The decrease was led by France, which experienced the steepest drop in new car registrations. According to a report from the European Automobile Manufacturers' Association (ACEA), 869,816 new passenger cars were registered in the European Union in November.
France reported the largest decline, with new car registrations falling by 12.7 percent. Italy followed with a 10.8 percent drop, while Germany's market remained relatively stable, decreasing by just 0.5 percent. Spain, however, stood out as the only major EU market to see growth, with an increase of 6.4 percent in new car registrations.
The market share for battery-electric vehicles also saw a decline, falling to 15 percent in November from 16.3 percent during the same month in 2023. The total volume of battery-electric car registrations dropped by 9.5 percent, reflecting a downward trend in the electric vehicle market across Europe.
Looking at the year-to-date figures, new car registrations in the EU rose slightly by 0.4 percent, totaling 8.7 million units from January to November. Spain saw the most significant growth in the first 11 months, with an increase of 5.1 percent, while France, Germany, and Italy all reported declines, with France seeing the largest drop at 3.7 percent.
France reported the largest decline, with new car registrations falling by 12.7 percent. Italy followed with a 10.8 percent drop, while Germany's market remained relatively stable, decreasing by just 0.5 percent. Spain, however, stood out as the only major EU market to see growth, with an increase of 6.4 percent in new car registrations.
The market share for battery-electric vehicles also saw a decline, falling to 15 percent in November from 16.3 percent during the same month in 2023. The total volume of battery-electric car registrations dropped by 9.5 percent, reflecting a downward trend in the electric vehicle market across Europe.
Looking at the year-to-date figures, new car registrations in the EU rose slightly by 0.4 percent, totaling 8.7 million units from January to November. Spain saw the most significant growth in the first 11 months, with an increase of 5.1 percent, while France, Germany, and Italy all reported declines, with France seeing the largest drop at 3.7 percent.
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