SunSirs: EU Passenger Car Sales Increased 4.5% to 5.7 Million Units in the First Half of 2024

https://www.chemnet.com   Jul 19,2024 SunSirs

According to the latest data released by the European Automobile Manufacturers Association (ACEA), passenger car sales in the EU automotive market increased by 4.3% year-on-year to 1,089,925 units in June 2024. Mainly due to the growth of three of the four major markets in the region: Italy (+15.1%), Germany (+6.1%), and Spain (+2.2%). In contrast, France has decreased by 4.8%.

In the first half of 2024, the sales of passenger cars in the European Union increased by 4.5%, reaching nearly 5.7 million units. However, compared to pre pandemic levels, it is still relatively low (-18%). The largest markets in the European Union have shown positive but moderate performance, with Spain (+5.9%), Germany (+5.4%), Italy (+5.4%), and France (+2.8%) all achieving growth.

In June, electric vehicles accounted for 14.4% of the EU automotive market, down from 15.1% last year. At the same time, the market share of hybrid vehicles has increased from 24.4% to 29.5%. The total share of gasoline and diesel vehicles decreased from 49.6% to 47.1%.

Electric vehicle

In June, the registration of pure electric vehicles (BEVs) decreased by 1% to 156408 units, and their total market share dropped from 15.1% to 14.4%. Despite significant growth in Belgium (+50.4%) and Italy (+117.4%), these increases cannot offset the double-digit declines in other major markets: Germany (-18.1%), the Netherlands (-15%), and France (-10.3%). Therefore, a total of 712637 new pure electric vehicles were registered in the first half of the year. This is a slight increase of 1.3% compared to the same period last year, accounting for 12.5% of the market share.

Last month, the registration of plug-in hybrid vehicles saw a significant decrease of 19.9%, with the three largest markets experiencing significant declines: Belgium (-49.2%), France (-21.7%), and Germany (-3.4%). In June, plug-in hybrid vehicles accounted for 6.1% of the entire automotive market, down from 7.9% last year, with sales of 66,482 units.

Hybrid vehicles are the only category of power systems that have achieved growth, with a 26.4% increase in car registrations in June, reaching 321,959 units. The four largest markets in this segment achieved double-digit growth: France (+34.9%), Italy (+27.2%), Spain (+23%), and Germany (+16.5%). This growth has driven the market share of hybrid vehicles from 24.4% in June 2023 to 29.5%.

Gasoline and diesel vehicles

In June, gasoline car sales remained relatively stable, with a decrease of only 0.7%. The decline in major markets such as France (-20.2%) and Spain (-7.5%) was offset by growth in Germany (+12.1%) and Italy (+6.9%). Therefore, gasoline cars now hold 34.4% of the market share, down from 36.2% in June last year. The diesel car market also experienced a similar situation, with a slight decrease of 0.9%, resulting in a market share of 12.7% in June last year. Although Germany grew by 12.4%, other major markets such as Italy (-18.3%), France (-8.3%), and Spain (-2.1%) experienced declines.

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