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.
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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.