EU Car Market Grows

(MENAFN) Passenger car registrations in the European Union increased by 4% in the first quarter compared with the same period last year, supported largely by robust expansion in electric and hybrid vehicle segments, according to industry figures released on Thursday.

New vehicle registrations totaled 2.82 million units between January and March, as reported by the European Automobile Manufacturers’ Association. When taking into account a wider European region that includes the EU, the European Free Trade Association, and the UK, overall sales climbed by 4.1% to reach 3.52 million units.

Within the EU’s major markets, Italy experienced the fastest growth, with sales rising by 9.2%, while Spain followed with an increase of 7.6%.

Battery-electric vehicles were the main driver of market growth, with registrations surging 32.5% year-on-year to 546,937 units. This category accounted for 19.4% of all new car sales. Italy saw a particularly sharp rise in battery-electric demand at 65.7%, while Germany and Spain also recorded strong gains of 41.3% and 41.6%, respectively.

Hybrid-electric models remained the dominant choice among buyers, representing 38.6% of total market share. Their registrations increased by 12.8%, reaching 1.08 million units. Meanwhile, plug-in hybrid vehicles also posted significant growth, rising 29.7% to 268,344 units.

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