EU sees significant rise in April’s new car sales

New car sales in the European Union (EU) surged by 13.7 per cent in April, marking the largest increase since last October, according to the European Automobile Manufacturers Association (ACEA), cited by Reuters on Wednesday.

This rise, which comes after a dip in registrations in March, is attributed to growth in major markets including Spain, Germany, France, and Italy, along with two additional sales days due to an early Easter.

Despite concerns over slowing electric vehicle (EV) sales growth, high interest rates, and increasing competition from China, top European carmakers anticipate a pickup in car sales throughout the year.

In April, sales of battery-electric cars and hybrid-electric cars rose by 14.8 per cent and 33.1 per cent, respectively, from the previous year.

Electrified vehicles, encompassing fully electric models, plug-in hybrids, and full hybrids, made up 47.8 per cent of all new passenger car registrations in April, an increase from 44.1 per cent the previous year.

Among Europe’s three largest carmakers, Volkswagen, Stellantis, and Renault, registrations grew by 15.5 per cent, 1.7 per cent, and 11.0 per cent, respectively, in the EU. Toyota saw a significant 47.3 per cent jump in registrations.

Overall, the number of new vehicles registered in April across the EU, Britain, and the European Free Trade Association (EFTA) rose by 12.0 per cent to 1.08 million vehicles.