EU Car Market Stable in 2024 as Hybrid-Electric Sales Surge, While EV and Plug-in Hybrid Registrations Decline

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Nine months into 2024, new car registrations remained steady (+0.6%) at nearly 8 million units. Spain (+4.7%) and Italy (+2.1%) showed growth, while France and Germany saw declines (-1.8% and -1%, respectively).

Battery-electric cars made up 17.3% of the EU car market in September, up from 14.8% last year. However, year-to-date volumes dropped by 5.8%, with market share falling to 13.1%, down from 14% last year. This was largely driven by a sharp decline in Germany (-28.6%).

Despite this, battery-electric registrations rose by 9.8% to 139,702 units in September 2024, though year-to-date volumes still lag behind the previous year.

Plug-in hybrid registrations fell significantly in September, down 22.3%, with declines across all major markets. Plug-in hybrids accounted for 6.8% of the market, down from 8.2% in 2023, with 54,889 units sold.

In contrast, hybrid-electric vehicle registrations surged by 12.5%, with market share rising to 32.8%, overtaking petrol for the first time.

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