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New car sales in the EU increased by 13.7 percent. Which companies dominate?

2024-05-22 13:44:03Lifestyle SHKRUAR NGA REDAKSIA VOX

New car sales in the EU increased by 13.7 percent. Which companies dominate?

New car sales in the European Union rose 13.7% in April compared to a year earlier. According to the European car industry body, this change marked their biggest increase since last October.

The European Automobile Manufacturers Association (ACEA) said growth in key markets Spain, Germany, France and Italy fueled growth, while an early Easter added two extra sales days to the month.

Major European carmakers are betting that car sales will rise during the year, despite warning that the market will be tough due to slowing growth in electric vehicle sales and increasing Chinese competition, while consumers struggle with rates high interest.

According to data from the European Association of Automobile Manufacturers, sales of battery electric cars in April increased by 14.8% from a year earlier, while those of hybrid-electric cars increased by 33.1%.

Electrified vehicles, whether fully electric, plug-in hybrid or full hybrid models, sold in the European Union accounted for 47.8% of all new passenger car registrations in April, up from 44.1% a year earlier.

Car registrations at Europe's three biggest carmakers, Volkswagen, Stellantis and Renault, rose by 15.5%, 1.7% and 11.0% respectively in the EU, while Toyota saw registrations up 47.3%.

The number of new vehicles registered in April in the EU, Britain and the European Free Trade Association (EFTA) increased by 12.0% to 1.08 million vehicles.

European car giants Volkswagen, Mercedes-Benz and Stellantis all had lower sales and earnings in the first quarter. They also faced higher costs and weaker demand for new cars as interest rates remain high while firms are ramping up new models, including cheap electric cars.

Sales of hybrid electric cars, seen as a compromise between full-combustion and all-electric, have surged in the European Union in recent months.


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