In January 2024, the EU new car market recovered from the slump experienced in December 2023, with vehicle registrations increasing by 12.1% year-on-year to 851,690 vehicles.
In particular, the bloc’s major markets all showed strong growth, with Germany (+19.1%), Italy (+10.6%), France (+9.2%) and Spain (+7.3%) growing in the high single or double digits. achieved one. You will get profit.
EU new vehicle registration by power source
in January, battery electric vehicles accounted for 10.9% of the market share (up from 9.5% in January 2023), and hybrid electric vehicles accounted for nearly 30% share, as the second preferred option among car buyers in the EU. solidified its position. The combined market share of gasoline and diesel vehicles was almost 50% as of January 2024, down from 54% a year ago.
Electric car
in January 2024, new vehicle sales of battery electric vehicles increased by 28.9% to 92,741 units, with a total market share of 10.9%. The four largest markets in the region, which together cover 66% of all battery electric vehicle registrations, are Belgium (+75.5%), the Netherlands (+72.2%), France (+36.8%) and Germany. We recorded solid double-digit growth. (+23.9%).
New registrations of hybrid electric vehicles in the EU rose by 23.5% in January. This is in the four largest markets: Spain (+26.5%), France (+29.9%), Germany (+24.3%) and Italy (+14.2%). This resulted in sales of 245,068 units in the first month of 2024, accounting for 28.8% of the EU market share.
Sales of plug-in hybrid electric vehicles recovered after declining in December 2023, increasing by 23.8% to 66,660 units in January 2024. This growth was mainly driven by strong increases in key markets such as Belgium (+65.2%) and Germany (+65.2%). 62.6%). As a result, plug-in hybrid electric vehicles currently account for 7.8% of total car sales in the EU.
gasoline and diesel cars
in January 2024, the EU petrol vehicle market expanded by 4%, driven by notable increases in key markets such as Italy (+26.7%) and Germany (+16.9%). Although it maintained its number one market share in January with 35.2%, the share of gasoline-powered vehicles decreased from 37.9% in the same month in 2023.
Conversely, the EU diesel car market shrank by 4.9% in January. This decline was evident in several markets, including her three largest markets: France (-23.4%), Spain (-10.2%) and Italy (-8.7%). However, Germany deviated from this trend with its growth rate of 4.3%. In January 2024, diesel vehicle sales reached 114,415 units, with a market share of 13.4%, down from 15.8% in 2023.
In January 2024, new battery electric vehicle sales increased by 28.9% to 92,741 units, giving a total market share of 10.9%.
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About ACEA
- The European Automobile Manufacturers Association (ACEA) represents 15 major European car, van, truck and bus manufacturers: BMW Group, DAF Trucks, Daimler Trucks, Ferrari, Ford of Europe and Honda Motor Europe. , Hyundai Motor Europe, Iveco Group, JLR, Mercedes-Benz, Nissan, Renault Group, Toyota Motor Europe, Volkswagen Group, Volvo Group
- For more information about ACEA, please visit and follow us at www.acea.auto. www.twitter.com/ACEA_auto or www.linkedin.com/company/ACEA/
- Contact: Francesca Piazza, Senior Statistics Manager, fp@acea.auto
About the EU automotive industry
- 12.9 million Europeans work in the automotive sector
- 8.3% of all manufacturing employment in the EU
- European government tax revenue is 392.2 billion euros
- European Union trade surplus is 101.9 billion euros
- More than 7% of EU GDP is generated by the automotive industry
- R&D expenditure is 59.1 billion euros per year, equivalent to 31% of the EU total
Passenger car registration