New car sales in the European Union experienced a significant increase of 13.7% in April compared to the previous year, marking the largest jump since October. This growth was primarily driven by strong performance in key markets such as Spain, Germany, France, and Italy. Additionally, the presence of two extra sales days due to an early Easter contributed to the boost in sales for the month.
Top European car manufacturers are optimistic about a potential uptick in car sales for the rest of the year, despite challenges posed by sluggish growth in electric vehicle (EV) sales and heightened competition from Chinese automakers. Moreover, consumers are facing difficulties due to high interest rates in the market.
According to data from the European Automobile Manufacturers Association (ACEA), sales of battery electric cars increased by 14.8% in April compared to the previous year, while hybrid-electric cars saw a growth of 33.1%. However, Tesla reported a decline in vehicle registrations, with only 13,951 vehicles registered in April, marking its lowest performance since January 2023.
Interestingly, electrified vehicles, including fully electric models, plug-in hybrids, and full hybrids, accounted for 47.8% of all new passenger car registrations in the EU in April, up from 44.1% in the previous year. Among the major European carmakers, Volkswagen, Stellantis, and Renault witnessed growth in registrations by 15.5%, 1.7%, and 11.0%, respectively, while Toyota experienced a substantial increase of 47.3%.
The total number of new vehicles registered in April across the EU, Britain, and the European Free Trade Association (EFTA) region rose by a notable 12.0% to 1.08 million vehicles. This data underscores the positive trend in the automotive industry and indicates a promising outlook for the market. Additional insights from Bloomberg have been included for reference.
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