EU car market slows by 3.3% in Dec. of ‘23

The European Union (EU) car market experienced a 3.3 per cent decline, marking the first decrease in 16 months as electric-vehicle purchases slipped, the European Automobile Manufacturers’ Association said on Thursday.

In December 2023, new battery-electric car sales declined for the first time since April 2020 (during the COVID-19 pandemic), dropping by 16.9 per cent to 160,700 units, the report added.

Meanwhile, the EU petrol car market grew by 5.1 per cent in December 2023, driven by significant contributions from key markets like Italy (+24.9 per cent) and Germany (+16.1 per cent).

The EU diesel car market continued its downwards path in December, contracting 9.1 per cent. This decline was evident in several key markets, including three of the largest: Spain (-26.5 per cent), France (-22.2 per cent), and Italy (-19.7 per cent).