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18 July 2024

Daily Newsletter

18 July 2024

EU car sales show hybrids up, EVs down

Hybrid-electric cars were the only powertrain gainers in June EU new car registration figures

David Leggett July 18 2024

New car sales data for the EU in the month of June, released by the European automakers’ trade association ACEA, shows that while hybrid-electric car sales continue to grow (+26% YoY in June), other powertrains – including battery electric cars - declined.

Overall EU car sales in June 2024 reached 1,089,925 units (+4.3% on last year’s pace).

In June, battery-electric cars accounted for 14.4% of the EU car market, down from 15.1% the previous year. At the same time, hybrid-electric vehicles increased their market share, growing from 24.4% to 29.5%. The combined share of petrol and diesel cars fell to 47.1%, down from 49.6%.

In June 2024, registrations of battery-electric (BEV) cars declined by 1% to 156,408 units, with their total market share dropping to 14.4% from 15.1%. Despite significant growth in Belgium (+50.4%) and Italy (+117.4%), these gains could not offset double-digit declines in the other top markets: Germany (-18.1%), the Netherlands (-15%), and France (-10.3%). As a result, a total of 712,637 new battery-electric cars were registered in the first half of the year. This marks a modest 1.3% increase from the same period the previous year, and represents 12.5% of the market.

Plug-in hybrid (PHEV) car registrations saw a strong decline of 19.9% last month, with significant decreases in three of the largest markets: Belgium (-49.2%), France (-21.7%), and Germany (-3.4%). In June, plug-in hybrids accounted for 6.1% of the total car market, down from 7.9% last year, with 66,482 units sold.

Hybrid-electric vehicles were the only powertrain category to post growth in June, with car registrations increasing by 26.4% in June to 321,959 units. All four of the largest markets for this segment recorded double-digit gains: France (+34.9%), Italy (+27.2%), Spain (+23%), and Germany (+16.5%). This growth pushed the hybrid-electric market share to 29.5%, up from 24.4% in June 2023.

Petrol and diesel cars

In June 2024, petrol car sales remained relatively stable, decreasing by just 0.7%. Declines in key markets such as France (-20.2%) and Spain (-7.5%) were counterbalanced by growth in Germany (+12.1%) and Italy (+6.9%). As a result, petrol cars now represent 34.4% of the market, down from 36.2% in June last year. The diesel car market saw a similar situation, with a slight decline of 0.9%, resulting in a 12.7% share of the market last June. While Germany experienced a gain of 12.4%, decreases were observed in other major markets like Italy (-18.3%), France (-8.3%), and Spain (-2.1%).

Overall EU car market

Overall EU car sales in June 2024 reached 1,089,925 units (+4.3% on last year’s pace). In the first half of 2024, new car registrations in the EU increased by 4.5%, reaching nearly 5.7 million.

In June 2024, EU car registrations increased by 4.3%, driven by gains in three out of the region’s four major markets: Italy (+15.1%), Germany (+6.1%), and Spain (+2.2%). In contrast, France saw a decline of 4.8% last month.

In the first half of 2024, new car registrations increased by 4.5%, reaching nearly 5.7 million units. However, registration volumes remain relatively low (-18%) compared to pre-pandemic levels. The bloc's largest markets all showed positive but modest performance, with Spain (+5.9%), Germany (+5.4%), Italy (+5.4%), and France (+2.8%) all recording growth.

Source: ACEA

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