EU car sales surge 4.3% in June

New car sales in the European Union (EU) rose 4.3 per cent in June to their highest level since July 2019, driven by increased demand in major markets such as Italy, Germany, and Spain, according to data from the European Automobile Manufacturers Association (ACEA) released on Thursday.

Despite this overall growth, registrations of battery-electric cars saw a slight decline.

While battery electric car registrations surged in Belgium and Italy by 50.4 per cent and 117.4 per cent respectively, these gains were insufficient to counteract the significant drops experienced in Germany, the Netherlands, and France.

Sales of battery electric and plug-in hybrid cars fell by 1 per cent and 19.9 per cent respectively, across the EU, whereas hybrid-electric car sales increased by 26.4 per cent.

In the first half of the year, battery electric car registrations rose by a modest 1.3 per cent. Electric vehicle’s (EV), including fully electric, plug-in hybrids, and full hybrids, constituted 50 per cent of all new passenger car registrations in June, up from 47.5 per cent the previous year.

Volkswagen, Stellantis, and Renault, Europe’s three largest carmakers, saw their car registrations grow by 4.7 per cent, 0.4 per cent, and 6.2 per cent respectively, in June.

Despite a cooling demand for electric vehicles following several years of strong growth, European carmakers remain optimistic about sales prospects for the rest of the year.

Attribution: Reuters.