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Europe’s New-Vehicle Sales Down

December blip due in part to EV sales falling from year-earlier high.

January 18, 2024
Europe’s New-Vehicle Sales Down

As inventories were replenished throughout last year, sales benefited, closing at 10.5 million units.

IMAGE: Pexels/Tetyana Kovyrina

1 min to read


New-vehicle sales in Europe fell more than 3% to close the year after 16 straight months of growth, though they were up about 14% for the year.

More than 867,000 units were registered on the continent in December, according to the European Automobile Manufacturers’ Association, which attributed the decline to the high number seen a year earlier as the industry had started to pull out of pandemic conditions.

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As inventories were replenished throughout last year, sales benefited, closing at 10.5 million units, with every submarket but Hungary growing, most by double digits, the association said.

About a 17% drop in battery-electric vehicle sales, the first decline in the segment since April 2020, contributed to the December industry blip. The association attributed the EV decline to brisk electric sales a year earlier, in addition to a steep 48% drop in Germany, Europe’s biggest EV market. Still, electrified vehicle sales were up 37% for the year to more than 1.5 million units and about 15% overall market share, the third biggest market share behind gas-powered and hybrid models, at Nos. 1 and 2.

LEARN MORE: Europe Gets More Electric

 

 

 

Originally posted on Auto Dealer Today

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