Data & Analytics

European New Car Registrations Rise 0.6% Amid Shifts in Vehicle Preferences

July 2024 saw 1,025,290 new cars registered across Europe, according to the Association of Automobile Manufacturers of Europe (ACEA). Fully electric vehicles (BEVs) accounted for 139,657 units, marking a 5.9% decline compared to July 2023. Plug-in hybrids (PHEVs) saw an even sharper drop of 10.6%, with 72,723 units registered.

In contrast, the full hybrid (HEV) segment experienced a significant boost, increasing by 24.4% to 333,655 units. Meanwhile, traditional gasoline-powered car registrations fell by 8.4%, and diesel registrations dropped by 11.3%.

From January to July 2024, the European new car market grew by 3.9%, with 7,906,191 units registered. During this period, BEV registrations rose marginally by 0.6% to 1,093,808 units, compared to 1,087,118 units in the same period last year. HEVs saw robust growth, with 2,392,884 units registered in the first seven months.

Petrol-powered vehicles, including mild hybrids, declined by 2.4% to 2,764,606 units, while diesel registrations fell by 8.4% to 888,810 units.

Volkswagen led the market with 2,042,583 units, followed by Stellantis (1,298,102 units), Renault (including Dacia) with 743,488 units, Hyundai at 671,930 units, and Toyota with 520,531 units.

Source: RBTransport

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