October sees modest 1.1% growth in new EU car registrations

In October 2024, new EU car registrations reversed their decline, recording a modest 1.1% increase, according to the latest data from the European Automobile Manufacturers’ Association (ACEA). Spain led the way with a robust 7.2% growth, while Germany rebounded with a 6% increase following three months of decline. Decreases were recorded in both France (-11.1%) and Italy (-9.1%).

Ten months into 2024, new car registrations remained stable (+0.7%), reaching 8.9 million units. The markets in Spain (+4.9%) and Italy (+0.9%) performed positively, while declines were witnessed in France and Germany (-2.7% and -0.4%, respectively).

New EU car registrations by power source

The battery-electric car market share for October 2024 remained stable at 14.4%. The year-to-date volumes dropped by 4.9%, while market share also fell to 13.2% from 14% last year.

Plug-in hybrid car registrations for October 2024 also declined by 7.2%. The market share for this type of vehicle reached 7.7% this month, a decrease of 0.7 percentage points compared to the same period last year.

Electric cars. Registrations of battery-electric cars rose by 2.4% to 124,907 units in October 2024. However, year-to-date market volume remained 4.9% lower than the same period last year, with the total market share at 14.4%. This decline was primarily driven by a significant decrease in registrations in Germany (-26.6%).

Plug-in hybrid car registrations fell by 7.2% last month, following significant declines in France (-26.9%) and Italy (-24.9%). In October, plug-in hybrids accounted for 7.7% of the car market, down from 8.4% last year. Year-to-date volumes were also down, decreasing by 7.9% compared to the same period last year.

Hybrid-electric registrations increased by 17.5% in October, with market share rising to 33.3%, up from 28.6% last October, exceeding for the second consecutive month petrol car registrations.

Petrol and diesel cars. In October 2024, petrol car sales dropped by 6.8% overall. France experienced the steepest drop, with registrations plummeting by 32.7%, followed by Italy with a 10.1% decline. Spain recorded a more modest decrease of 1.6%, while Germany was the only major market to show growth, with petrol car registrations increasing by 3.7%.

Petrol cars now account for 30.8% of the market, down from 33.4% in the same month last year. The diesel car market declined by 7.6%, resulting in a 10.9% market share last October. Overall, decreases were observed in almost two-thirds of EU markets.