Tuesday, 02 January 2024 12:17 GMT

EU Car Market Sees Moderate Growth


(MENAFN) New vehicle registrations across the European Union increased by 1.4% year-on-year during the first ten months of this year, with monthly numbers rising for the fourth consecutive month, the European Automobile Manufacturers Association (ACEA) reported on Tuesday.

Despite the recent upward trend, overall registration levels continue to lag significantly behind those observed before the pandemic, the association noted.

“The battery-electric car market share reached 16.4%, yet it is still below the pace needed at this stage of the transition," it highlighted.

"Hybrid-electric vehicles lead as the most popular power type choice among buyers, with plug-in hybrids continuing to gain momentum.”

Between January and October, battery-electric vehicles represented 16.4% of the EU market, marking an increase from the previous low of 13.2%.

Registrations of hybrid-electric cars held a 34.6% share, maintaining their position as the most favored option among European consumers.

At the same time, the combined share of petrol and diesel vehicles declined to 36.6%, down from 46.3% during the same period in 2024.

Over this timeframe, the EU recorded 1.47 million new battery-electric cars, 3.1 million hybrid-electric vehicles, 819,200 plug-in hybrids, and 2.46 million petrol and diesel cars.

MENAFN25112025000045017167ID1110393326



MENAFN

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Search