The ACEA has expressed concern over the fourth consecutive monthly drop in EV sales. Credit: chaossart / Shutterstock.
In August 2024, the European Union experienced a significant downturn in new car registrations, plummeting by 18.3%, according to data by the European Automobile Manufacturers’ Association (ACEA).
This decline was consistent across the region’s principal markets, with Germany, France, and Italy all experiencing double-digit losses while Spain saw a more moderate decrease.
The market for battery-electric vehicles (BEVs) was particularly affected, with registrations tumbling by 43.9% to 92,627 units, a stark contrast to the 165,204 units from the same period in the previous year.
The market share for BEVs also fell to 14.4%, down from 21% a year earlier. The most significant declines were noted in Germany and France, the largest markets for BEVs.
From the start of 2024 to August, there were 902,011 new BEV registrations, accounting for 12.6% of the total market.
Registrations of plug-in hybrid vehicles also declined by 22.3% last month, with reductions noted across all major markets. Plug-in hybrids comprised 7.1% of the total car market last month, a slight decrease from 7.4% the previous year, with 45,590 units sold.
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Conversely, hybrid-electric vehicles (HEVs) bucked the trend, with registrations climbing by 6.6% to 201,552 units. Growth was observed in Spain, France, and Italy, while Germany’s HEV market remained virtually unchanged. HEVs now hold a 31.3% market share, up from 24% in August of the preceding year.
Sales of petrol cars declined by 17.1%, with all four key markets witnessing notable drops. The market share for petrol cars now stands at 33.1%, a slight decrease from the previous year’s figure.
The diesel car segment also suffered, with a 26.4% decrease in registrations, leading to an 11.2% market share in August. Almost all European markets saw double-digit declines in this category.
Despite the overall downturn, the first eight months of 2024 saw a slight 1.4% increase in new car registrations, nearing 7.2 million units. Spain and Italy displayed modest growth, while the French and German markets remained stagnant.
The ACEA has expressed concern over the fourth consecutive monthly drop in EV sales, calling for “urgent action” from EU institutions to avert further declines, especially with new CO₂ targets for cars and vans set to take effect in 2025.
“We urge the European Commission to bring forward the CO₂ regulation reviews for light-duty and heavy-duty vehicles, currently scheduled for 2026 and 2027 respectively, to 2025,” the auto industry body said.
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