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19.09.2024

Passenger car registrations in the European Union declined sharply in August

Data published by the European Automobile Manufacturers Association (ACEA) showed that in August, the number of registrations of new passenger cars in the European Union fell by 18.3% per year, to 643,637 units, after an increase by 0.2% per year in July. Economists had expected a 20% decrease.

The data also showed that the number of registrations of new passenger cars fell in Germany (-27.8%), France (-24.3%), Italy (-13.4%) and Spain (-6.5%). These countries are the key markets of the region.

Meanwhile, from the beginning of the year (to August) new car registrations increased by 1.4%, almost reaching 7.2 million units. Growth was recorded in Spain (+4.5%) and Italy (+3.8%), while new car registrations were almost unchanged in France (-0.5%) and Germany (-0.3%).

ACEA said that in August, the battery-electric car market share fell to 14.4% from 21.0% in August 2023. Overall, new battery-electric car sales fell by 43.9% per annum, to 92,627 units. Hybrid-electric vehicles increased their market share from 24.0% to 31.3%. New registrations of hybrid-electric cars increased by 6.6% per annum, to 201,552 units. Plug-in hybrid car registrations fell by 22.3% to 45,590 units, while plug-in hybrids accounted for 7.1% of the total car market, down from 7.4% last year. The combined share of petrol and diesel cars dropped to 44.3% from 45.1%. Petrol car sales dropped by 17.1% per annum, to 213,057, while the diesel car market contracted by 26.4% per annum, to 72,177 units.

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