The European Automobile Manufacturers Association (ACEA) revealed that new car sales in Europe increased by 1.1% in October, marking the first growth since July, with 866,397 new vehicles registered.
In a statement, ACEA noted that the European market recorded a 0.7% growth over the first ten months of 2024, totaling 8.9 million units, driven by the Spanish market, which saw a 4.9% increase, and the Italian market, which grew by 0.9%.
ACEA also reported that the market for 100% electric vehicles in Europe grew by 2.4% in October, reaching 124,907 units. However, the cumulative market share from January to October declined from 14% in 2023 to 13.2% in 2024, with a total market share of 14.4%.
Meanwhile, registrations of plug-in hybrid vehicles fell by 7.2% in October, following significant declines in France (-26.9%) and Italy (-24.9%). In October, plug-in hybrids accounted for 7.7% of the car market, down from 8.4% last year. Cumulative volumes from January to October also decreased, dropping by 7.9% compared to the same period last year.
On the other hand, registrations of electric hybrids grew by 17.5% in October, with market share rising to 33.3%, compared to 28.6% recorded in the same period of 2023, surpassing gasoline vehicle registrations for the second consecutive month.
Vehicles equipped with gasoline combustion engines experienced an overall sales decline of 6.8% in October. France saw the sharpest drop at 32.7%, followed by Italy with a decline of 10.1%. Spain recorded a more modest decrease of 1.6%, while Germany was the only major market to show growth with an increase of 3.7%.
As a result, gasoline cars now account for 30.8% of the market, down from 33.4% recorded in October 2023.
As for the diesel vehicle market, it recorded a decrease of 7.6% in the tenth month of 2024, resulting in a market share of 10.9%. “Overall, reductions were observed in nearly two-thirds of EU markets”, the ACEA statement adds.
