European Union car sales show significant growth of 9.2%

The data, sourced from the European Automobile Manufacturers Association (ACEA), highlights the region's 14th consecutive month of sales growth.

New car sales in the European Union (EU) have shown notable growth, with a 9.2% increase recorded for September. This growth is attributed to a substantial rise in the sales of electric and hybrid vehicles, which, when combined, accounted for more than half of all car sales during the month. The data, sourced from the European Automobile Manufacturers Association (ACEA), highlights the region’s 14th consecutive month of sales growth.

Impressive Performance of Electric and Hybrid Vehicles

Fully-electric car sales saw a significant increase of 14.3% compared to the previous year, demonstrating a growing consumer preference for electric vehicles. Moreover, full hybrid vehicle sales experienced even more substantial growth, with a surge of over 30%. The sales performance of these eco-friendly vehicles played a pivotal role in driving overall car sales growth across the EU.

The impact of these electric and hybrid vehicles on the market is evident, as fully-electric cars constituted 14.8% of all sales. When fully-electric cars, plug-in hybrids, and full hybrids are considered together, they represent slightly over 50% of total car sales, underscoring the shift towards greener transportation options in Europe.

Decline in Diesel Vehicle Sales

In contrast to the rising popularity of electric and hybrid vehicles, diesel models continue to experience a decline in sales. The data reveals that diesel vehicles now make up just 12.5% of the total car sales, down from 15.9% in the previous year. This decline marks a significant shift in consumer preferences, as diesel vehicles once accounted for more than 50% of new car sales in the EU as recently as 2015.

Performance of Leading Automakers

Among the leading automakers in Europe, Volkswagen, the region’s top car seller, reported a commendable 9.6% increase in sales for the month of September. Stellantis and Renault also demonstrated sales growth, with their sales rising by 11.3% and 5.1%, respectively.

The ongoing recovery of car sales in Europe can be attributed to the gradual resolution of supply chain issues that stemmed from the COVID-19 pandemic. Notably, the global shortage of semiconductor chips had disrupted production. Despite 14 consecutive months of growth, car sales for the first nine months of 2023 remain 20% below the figures reported during the same period in 2019, prior to the pandemic’s outbreak.

Overall Growth in Car Registrations

The number of new vehicles registered in September across the EU, Britain, and the European Free Trade Association (EFTA) saw a growth of 11.1%, reaching 1.17 million units, according to the ACEA. This encouraging trend indicates the resilience and adaptability of the European automotive market in the face of challenges and changing consumer preferences.

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