EU new car sales flat in July, ‘electric’ sales down

BRUSSELS: In July 2024, new EU car registrations saw a modest increase of 0.2 percent, the European Automobile Manufacturers' Association (ACEA) said today. The association stated that the sales had mixed results across the region's four major markets. Italy (+4.7 percent) and Spain (+3.4 percent) recorded moderate gains, while the French (-2.3 percent) and German (-2.1 percent) markets experienced declines. Seven months into 2024, new car registrations increased by 3.9 percent, reaching more than 6.5 million units, as the result of a low comparison base. The bloc's largest markets all showed positive but modest performance, with Spain (+5.6 percent), Italy (+5.2 percent), Germany (+4.3 percent), and France (+2.2 percent) all recording growth. In July, battery-electric cars accounted for 12.1 percent of the EU car market, down from 13.5 percent the previous year. Hybrid-electric vehicles increased their market share, growing from 25.5 percent to 32 percent. The combined share of petrol and diesel cars fel l to 46 percent, down from 50 percent. In July 2024, registrations of battery-electric (BEV) cars declined by 10.8 percent to 102,705 units, with their total market share slipping to 12.1 percent from 13.5 percent a year before. Despite gains in Belgium (+44.2 percent), the Netherlands (+8.9 percent), and France (+1 percent), Germany's decline (-36.8 percent) could not be offset. Source: Emirates News Agency