EU car registrations rise to four-month high in October

seekingalpha2024-11-21

Double_Vision

EU new car registrations rose 1.10% Y/Y in October to a four-month high of 866,397 units, primarily led by robust growth in Spain and a rebound in Germany sales, the European Automobile Manufacturers' Association (ACEA) said on Thursday.

October's modest 1.10% gain compares to last month's 6.1% decline. This marked the first increase in passenger car registrations in three months, with positive results in two of the region’s four major markets.

Registrations of battery-electric cars rose by 2.4% to 124,907 units in October, while its market share also fell to 13.2% from 14% last year.

Plug-in hybrid car registrations fell by 7.2% last month, following significant declines in France (-26.9%) and Italy (-24.9%), while Hybrid-electric registrations increased by 17.5% in October, with market share rising to 33.3%, up from 28.6% last October.

In October 2024, petrol car sales dropped by 6.8% overall.

Year-to-date market share leaders in Europe by registrations are Volkswagen Group (OTCPK:VLKAF) at 26.7%, Stellantis (STLA) at 17.0%, Renault Group (OTCPK:RNSDF) at 10.8%, Toyota Motor (TM) at 8%, Hyundai (OTCPK:HYMTF) at 7.9%, BMW (OTCPK:BAMXF) at 6.7%, Mercedes-Benz (OTCPK:MBGAF) at 5.2%, Ford Motor (F) at 3%, Volvo Cars at 2.6%, Tesla (TSLA) at 2.2%, Nissan (OTCPK:NSANY) at 1.9%, Suzuki at 1.7%, SAIC Motor at 1.4%, and Mazda (OTCPK:MZDAY) at 1.3%.

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This marked the first increase in passenger car registrations in three months, with positive results in two of the region’s four major markets. </span></p> <p>Registrations of battery-electric cars rose by 2.4% to 124,907 units in October, while its market share also fell to 13.2% from 14% last year.</p> <p>Plug-in hybrid car registrations fell by 7.2% last month, following significant declines in France (-26.9%) and Italy (-24.9%), while Hybrid-electric registrations increased by 17.5% in October, with market share rising to 33.3%, up from 28.6% last October.</p> <p>In October 2024, petrol car sales dropped by 6.8% overall.</p> <div></div><p>Year-to-date market share leaders in Europe by registrations are Volkswagen Group (OTCPK:VLKAF) at 26.7%, Stellantis (STLA) at 17.0%, Renault Group (OTCPK:RNSDF) at 10.8%, Toyota Motor (TM) at 8%, Hyundai (OTCPK:HYMTF) at 7.9%, BMW (OTCPK:BAMXF) at 6.7%, Mercedes-Benz (OTCPK:MBGAF) at 5.2%, Ford Motor (F) at 3%, Volvo Cars at 2.6%, Tesla (TSLA) at 2.2%, Nissan (OTCPK:NSANY) at 1.9%, Suzuki at 1.7%, SAIC Motor at 1.4%, and Mazda (OTCPK:MZDAY) at 1.3%.</p> </body></html>","source":"seekingalpha_trending_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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October's modest 1.10% gain compares to last month's 6.1% decline. This marked the first increase in passenger car registrations in three months, with positive results in two of the region’s four major markets.  Registrations of battery-electric cars rose by 2.4% to 124,907 units in October, while its market share also fell to 13.2% from 14% last year. Plug-in hybrid car registrations fell by 7.2% last month, following significant declines in France (-26.9%) and Italy (-24.9%), while Hybrid-electric registrations increased by 17.5% in October, with market share rising to 33.3%, up from 28.6% last October. In October 2024, petrol car sales dropped by 6.8% overall. 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