Car Market in Europe Stands Still
Growth in July is 0.2%, electric and conventional engines shrink, electric hybrids grow
The car market in Europe is essentially standing still. According to the European Automobile Manufacturers’ Association (ACEA), new car registrations in the EU recorded a modest 0.2% increase in July 2024.
Large differences were found between the major markets: Italy (+4.7%) and Spain (+3.4%) grew, while markets in France (-2.3%) and Germany (-2.1%) were in negative territory. In any case, the results for the first seven months of 2024 remain positive with +3.9% at EU level (Spain +5.6%, Italy +5.2%, Germany +4.3% and France +2.2%).
Electric vehicles declined, with registrations down 10.8% to 102,705 units and overall market share falling to 12.1% from 13.5% the previous year. The contrasting data from Belgium (+44.2%) and Germany (-36.8%) stand out. From January to July 2024, 815,399 new battery electric vehicles were registered, representing 12.5% of the market.
Plug-in hybrid vehicle registrations declined in July (-14.1%), while the number of hybrid electric vehicles increased significantly by 25.7% to 273,003 units.
Finally, traditional engines: gasoline car sales fell 7% in July, resulting from modest growth in markets such as Italy (+3.8%) and Germany (+0.1%), in contrast to double-digit declines in France (-22.6%) and Spain (-12.5%). Gasoline cars now hold 33.4% of the market, down from 35.9% last July.
The decline in diesel cars was more pronounced (-10.1%), their market share was 12.6% in July. This motorization rises slightly in Germany (+1.4%) and literally collapses in Italy (-24.6%), France (-23.9%), and Spain (-11.6%).
