Click for more information.
In June 2023, the EU car market grew by 17.8% to 1 million registered units, according to ACEA,* the trade group that represents automakers, said this morning. Except for Hungary (-1.4%), all the EU markets grew, including the four largest: Germany (+24.8%), Spain (+13.3%), France (+11.5%), and Italy (+9.1%). The growth is partially a statistical anomaly since it is compared can be to the region’s rebound from a low comparison base last year, the result of vehicle component shortages.
Perhaps more significant though is that battery electric vehicles took a 15.1% market share, outselling once tax-favored diesel vehicles. Hybrid-electric cars remained the second-most popular choice among new car buyers, representing 24.3% of the market. Gasoline fueled cars retained the largest share, accounting for 36.3%.
During the first half of 2023, new EU car registrations increased significantly (+17.9%), reaching 5.4 million units. Nonetheless, aggregate volumes remain 21% lower when compared to 2019. This is a significant economic force since ~13 million Europeans work in the automotive sector.
A Closer look at Electric cars
Click for more.
In June, new registrations of battery-electric cars in the EU increased by a significant 66.2%, reaching 158,252 units. This resulted in a market share of 15.1% (up from 10.7% in June 2022) and positioned battery-electric cars as the third most popular choice among new car buyers, overtaking diesel for the first time. Most EU markets recorded impressive double- and triple-digit percentage gains, including the largest, such as the Netherlands (+90.1%), Germany (+64.4%), and France (+52.0%). This contributed to a year-to-date growth of 53.8%, with 703,586 units sold between January and June.
New hybrid-electric car registrations increased by 32.4% in June, reaching 254,100 units. This growth was primarily driven by substantial gains in the bloc’s largest markets: Germany (+59.1%), Italy (+29.9%), France (+27.9%), and Spain (+22.7%). Cumulatively, hybrid-electric car sales recorded a notable 27.9% increase from January to June, reaching ~1.4 million units and capturing 25% of the market.
In June, the EU market for new plug-in hybrid cars rebounded, with registrations increasing by 13.4%. Although there was a significant 39.2% sales decline in Germany, the largest market for this fuel type, the substantial increase in France (+49.9%) and Spain (+51.7%) largely offset this decline. The overall market share of plug-in hybrid cars decreased to 7.9% from 8.2% in June last year, despite June’s increase in registrations.
However, the GlobalData consultancy said this: “Hybridization of diesel in Germany reached 30% a few months ago and seems to be stable at this level at the moment. The type is almost all 48V mild hybrid with some OEMs offering only this technology on their current diesel range (Volvo for instance). Germany’s non-hybrid diesel share, as reported by the KBA, in June was 16.7% but including hybrids brings this up to 23.9% which is the figure we use in our analysis.”
*ACEA
The European Automobile Manufacturers’ Association (ACEA) represents the 14 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, JLR, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, and Volvo Group.
EU – EVs Outsell Diesel Cars for First Time
Click for more information.
In June 2023, the EU car market grew by 17.8% to 1 million registered units, according to ACEA,* the trade group that represents automakers, said this morning. Except for Hungary (-1.4%), all the EU markets grew, including the four largest: Germany (+24.8%), Spain (+13.3%), France (+11.5%), and Italy (+9.1%). The growth is partially a statistical anomaly since it is compared can be to the region’s rebound from a low comparison base last year, the result of vehicle component shortages.
Perhaps more significant though is that battery electric vehicles took a 15.1% market share, outselling once tax-favored diesel vehicles. Hybrid-electric cars remained the second-most popular choice among new car buyers, representing 24.3% of the market. Gasoline fueled cars retained the largest share, accounting for 36.3%.
During the first half of 2023, new EU car registrations increased significantly (+17.9%), reaching 5.4 million units. Nonetheless, aggregate volumes remain 21% lower when compared to 2019. This is a significant economic force since ~13 million Europeans work in the automotive sector.
A Closer look at Electric cars
Click for more.
In June, new registrations of battery-electric cars in the EU increased by a significant 66.2%, reaching 158,252 units. This resulted in a market share of 15.1% (up from 10.7% in June 2022) and positioned battery-electric cars as the third most popular choice among new car buyers, overtaking diesel for the first time. Most EU markets recorded impressive double- and triple-digit percentage gains, including the largest, such as the Netherlands (+90.1%), Germany (+64.4%), and France (+52.0%). This contributed to a year-to-date growth of 53.8%, with 703,586 units sold between January and June.
New hybrid-electric car registrations increased by 32.4% in June, reaching 254,100 units. This growth was primarily driven by substantial gains in the bloc’s largest markets: Germany (+59.1%), Italy (+29.9%), France (+27.9%), and Spain (+22.7%). Cumulatively, hybrid-electric car sales recorded a notable 27.9% increase from January to June, reaching ~1.4 million units and capturing 25% of the market.
In June, the EU market for new plug-in hybrid cars rebounded, with registrations increasing by 13.4%. Although there was a significant 39.2% sales decline in Germany, the largest market for this fuel type, the substantial increase in France (+49.9%) and Spain (+51.7%) largely offset this decline. The overall market share of plug-in hybrid cars decreased to 7.9% from 8.2% in June last year, despite June’s increase in registrations.
However, the GlobalData consultancy said this: “Hybridization of diesel in Germany reached 30% a few months ago and seems to be stable at this level at the moment. The type is almost all 48V mild hybrid with some OEMs offering only this technology on their current diesel range (Volvo for instance). Germany’s non-hybrid diesel share, as reported by the KBA, in June was 16.7% but including hybrids brings this up to 23.9% which is the figure we use in our analysis.”
*ACEA
The European Automobile Manufacturers’ Association (ACEA) represents the 14 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, JLR, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, and Volvo Group.