The European Automobile Manufacturers Association (ACEA) revealed that new car registrations in the European Union increased by 12.1% in the first month of 20024 compared to the same period in 2023, with significant increases in Germany, Italy, France, and Spain.
The total number of vehicles sold reached 851,690 units in a month where sales increased in the four main EU markets: 19.1% in Germany, 10.6% in Italy, 9.2% in France, and 7.3% in Spain.
In January, electric cars accounted for 10.9% of the market share, compared to 9.5% in January 2023, while electric hybrid cars had a market share of nearly 30%, solidifying their position as the second preferred choice among EU car buyers.
The combined market share of petrol and diesel cars reached almost 50% in January 2024, compared to 54% in the same month of 2023.
Meanwhile, sales of electric cars increased by 28.9% in January, reaching 92,741 units.
The four largest markets, which together represent 66% of all electric car registrations, recorded solid gains, led by Belgium (up 75.5%), the Netherlands (up 72.2%), France (up 36.8%), and Germany (up 23.9%).
On the other hand, electric hybrid car registrations in the EU increased by 23.5%, driven by significant growth in four markets: Spain (up 26.5%), France (up 29.9%), Germany (up 24.3%), and Italy (up 14.2%), totaling 245,068 units sold in the first month of 2024.
Plug-in hybrid electric cars, on the other hand, recovered after a decline in December 2023, increasing by 23.8% to a total of 66,660 units in January 2024.
On the other hand, the EU gasoline car market saw a 4% increase in January, driven by notable increases in key markets such as Italy, where growth was 26.7%, and Germany (16.9%).
Despite maintaining its leadership with a 35.2% market share in January, the gasoline car share decreased compared to the 37.9% recorded in the same month in 2023.
On the other hand, the diesel car market in the EU recorded a 4.9% decrease in January, penalized by the contraction of sales in France, Spain, and Italy. Germany, on the other hand, bucked the trend with a growth rate of 4.3%.
Thus, in January, diesel car sales reached 114,415 units, representing a market share of 13.4%, compared to 15.8% in 2023.
