According to data released by the European auto industry body, new car sales in the European Union (EU) increased by 4.3% in June to their highest level since July 2019. This increase was primarily due to a surge in major markets such as Germany, Spain, and Italy. Meanwhile, registrations of battery electric cars experienced a slight decline.
As stated by the European Automobile Manufacturers Association (ACEA), double-digit drops in Germany, the Netherlands, and France were not countered by an increase in battery electric car registrations of 50.4% and 117.3%, respectively, in Belgium and Italy.
By The Numbers
Leading European automakers are placing their bets on an increase in car sales in 2024, even though demand for electric vehicles (EVs) has cooled after several years of rapid growth and despite caution about challenging conditions in the global market.
According to ACEA data, sales of plug-in and battery electric vehicles in the EU decreased by 19% and 1%, respectively, in June.
In contrast, sales of hybrid electric vehicles increased by 26-4%. The number of battery-electric car registrations increased by 1.3% in the first half of 2024. Around 50% of all new passenger car registrations in the EU in June were EVs, whether they were fully electric, plug-in hybrids, or full hybrids. This represents an increase from 47.5% of registrations in June of last year.
In June, car registrations increased by 4.7%, 0.4%, and 6.2% at Volkswagen, Stellantis, and Renault, the three biggest automakers in Europe.
As part of a last-minute 2024 budget agreement, Germany, the largest EV market in the bloc, ended early subsidies for purchasing EVs in December.
“Germany is the sick man of Europe when it comes to electric cars,” said Lucien Mathieu, cars director at European campaign group Transport & Environment (T&E), adding that markets with predictable incentives for EV adoption were “reaping the rewards,” Zawya reported.