European Car Market Growing In July

The automotive market in Western Europe continues to grow. For 12 consecutive months, the number of car registrations in the EU, EFTA, and the UK has been on the rise: in July 2023, 1,022,468 cars were registered, showing a 15.2% increase. The results of the four largest markets in continental Europe are as follows: France +19.9%, Germany +18.1%, Spain +10.7%, and Italy +8.7%.
This is reported by ACEA (European Automobile Manufacturers’ Association) in its monthly report. It says that from January to July 2023, 6.3 million vehicles (+17.6%) were sold in the European Union. However, these volumes are 22% lower than in the same period of 2019, despite a noticeable improvement in the supply chain: the auto market is slowly recovering, but it is still far from pre-pandemic levels.
The share of electric vehicles has grown to 13.6% (115,971 units) against 9.8% in July 2022: the most significant increase was in Germany (+68.9%) and France (+32.4%), but the record belongs to Belgium with an impressive +235.9%. Hybrid models account for over 31% of new vehicle registrations.
The number of gasoline vehicles is also growing (+5%, 304,903 units) with a decrease in the share from 39.3% to 35.8% compared to July 2022. At the same time, the number of vehicles with diesel engines is decreasing (-9.1% in July from a market share – 17.9% to 14.1%), despite some increases in a number of countries, for example, in Germany (+2.7%) and in Eastern Europe: Slovakia (+36.1%) and Romania (+19.8%).