Mixed results across major markets
Among the EU’s four largest car markets, Spain stood out with a 6,3% increase in new car sales for September, offering a rare bright spot. In contrast, France (-11,1%), Italy (-10,7%), and Germany (-7%) all saw their markets shrink. This mixed performance weighed on the overall numbers, with the positive outcome in Spain unable to fully offset the declines in its counterparts.
For the year-to-date figures, the story is similar. New car registrations across the EU rose slightly by 0,6%, with nearly 8 million vehicles sold by the end of September. Spain (+4,7%) and Italy (+2,1%) contributed to this marginal growth, while France and Germany lagged behind, recording declines of 1,8% and 1,0%, respectively.
Battery-electric vehicles see market share growth
BEVs made up 17,3% of new car registrations in the EU for September, an increase from 14,8% a year earlier. This growth in market share reflects the steady rise in demand for fully electric cars, even as economic challenges weigh on the broader automotive sector. In September, 139.702 BEVs were sold—a solid increase from last year.
Yet, when looking at the whole year, BEV sales tell a more complex story. From January to September, BEV registrations totaled about 1.047.869 units, marking a 5,8% decrease compared to the same period in 2023. The steepest drop came from Germany, where BEV sales were down 28,6% year-to-date, putting a drag on overall European numbers.
Plug-in hybrids face a steeper decline
The plug-in hybrid vehicle (PHEV) segment struggled significantly in September. Sales fell 22,3% across the EU, with declines in all major markets. PHEVs accounted for only 6,8% of total car sales, down from 8,2% a year ago. In total, 54.889 PHEVs were sold in September, signaling a shift in consumer preference away from these hybrids toward fully electric models.
Hybrids rise, petrol and diesel decline
While PHEVs saw a downturn, hybrid-electric vehicles (HEVs) had a strong month, with sales growing by 12,5% compared to last September. HEVs now account for 32,8% of the EU market, overtaking petrol-powered cars, which dropped to 29,8% of total sales.
Petrol car sales fell sharply, dropping 17,9% in September. All major markets reported double-digit declines, including France (-31,9%), Italy (-23,3%), Germany (-15,2%), and Spain (-10,7%). Diesel vehicles also continued their decline, with sales down 23,5% and their market share shrinking to just 10,4%.
Highlights from national markets
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- Germany: Despite an 8,7% increase in BEV sales for the month, the overall market shrank by 7%. Year-to-date, BEV sales have dropped significantly, down 28,6%, reflecting a tough environment for the largest car market in Europe.
- France: Overall car registrations in France fell by 11,1% in September. BEV sales dipped 6,3%, while PHEV sales took a steep 35,8% hit. Hybrid models, however, gained popularity, with registrations climbing 38,2%.
- Italy: Italy saw a 10,7% drop in total car sales, but BEVs performed well, with a 30,0% increase in registrations. While hybrid sales stayed steady, PHEV sales declined by 24,3%.
- Spain: As the only major market with positive growth in September, Spain posted a 6,3% rise in overall car sales. BEV sales surged by nearly 70%, highlighting the strong demand for electric cars in a market on the upswing.
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What’s driving the market trends?
The overall decline in car sales across the EU can be linked to broader economic concerns, like inflation and high interest rates, which have curbed consumer spending. Even so, the rise in BEV market share suggests that many consumers are still looking to transition to electric vehicles, driven by climate concerns and stricter emissions standards.
But the 5,8% drop in year-to-date BEV sales points to challenges that are holding back faster growth. Germany’s sharp decline in BEV sales, for example, is a reminder that infrastructure, like the availability of charging stations, and concerns about battery range remain critical issues for potential buyers.
At the same time, automakers are working to increase their electric offerings, spurred on by European regulations that push for lower emissions. This could mean a faster pace of change in the coming months, though supply chain issues and economic uncertainty might still pose hurdles.
Conclusion
September 2024 was a month of contrasts for the European car market. While overall new car sales fell, the demand for fully electric vehicles showed resilience. BEV registrations grew by 9,8%, even as year-to-date figures remained behind those of 2023. As automakers navigate an uncertain economic landscape and a shifting consumer base, the next few months will be key in determining whether the electric vehicle market can maintain its momentum or face further setbacks.
Source: ACEA
