New car registrations in the European Union rose by 1.1% in October, according to a report from the European Automobile Manufacturers’ Association (ACEA) released Thursday.
This growth was primarily fueled by strong performances in Germany, where registrations climbed 6% after three consecutive months of decline, and Spain, which posted a 7.2% increase.
Meanwhile, Italy and France saw significant drops in car registrations, falling by 9.1% and 11.1%, respectively.
For the first 10 months of 2024, EU car registrations edged up 0.7% to approximately 8.9 million units. Spain led with a 4.9% rise, while Italy recorded a modest increase of 0.9%. Germany and France, however, saw declines of 0.4% and 2.7%, respectively.
Battery-electric vehicle (BEV) registrations in the EU fell 4.9% during the first 10 months of the year, heavily impacted by a 26.6% drop in Germany. BEVs now represent 14.4% of the EU car market. Despite the year-to-date decline, BEV registrations rose 2.4% in October, reaching 124,907 units.
Plug-in hybrid car registrations fell 7.9% year-to-date and 7.2% in October, with market share dropping from 8.4% to 7.7%. ACEA attributed this decline to underwhelming performances in key markets like Italy and France.
