9:43 am, November 26, 2024
Electric car sales have increased slightly across Europe, but in a market that continues to remain flat and petrol-focused, according to data released by market analysts, JATO Dynamics.
The European new car market stayed stable in October 2024, according to data from 28 European markets.
Total sales fell by 0.1% to 1,040,390 units, compared with figures from October 2023, while registrations rose by 1.1% to a total of 10,796,414.
Felipe Munoz, Global Analyst at JATO Dynamics, said: “As we head towards the end of the year, carmakers are increasingly rolling out discounts and deals to sell off unsold stock. This is helping registration figures stabilise and shouldn’t be mistaken as an indication of market recovery.”
Registrations of electric vehicles increased by 6.7% and petrol sales rose by 0.7%, while figures for diesel vehicles and plug-in hybrids fell by 8.1% and 7.2%, respectively.
Munoz added: “The strong performance of electric vehicles in Europe is welcome news, in particular for those manufacturers that already have a large electric offering.”
Notwithstanding current uncertainty around job losses and strike action, Volkswagen Group led the market, accounting for more than 287,000 new car registrations – an increase of 11%. At 27.6%, it was its highest share in three years, 11% higher than the same period in 2023.
Munoz continued: “Despite the challenges that Volkswagen Group is currently facing, it’s performing well and continues to set the standard across many segments.”
Pure electric cars were largely responsible for the group’s success last month, with the Skoda Enyaq securing the top spot as Europe’s best-selling EV – outperforming the Tesla Model Y. Registrations of the Volkswagen ID.4 increased by 24%, and the ID.7 registered more than 5,000 units.
Stellantis, meanwhile, experienced a 17% decrease in registrations, although its electric vehicles increased by 5%.
The Dacia Sandero retained its position as the best-selling vehicle across the region last month, ahead of the Peugeot 208 and VW Tiguan.
Chinese manufacturers continue to grow their presence across Europe – while MG saw a small fall in volumes, BYD had a strong month, registering 4,600 pure electric vehicles and 1,000 plug-in hybrid vehicles. Chery’s brands, Jaecoo and Omoda, also recorded good results last month.
