European Union Car Registrations Rise 4.5% in August; Tesla's Figures Up 53% Year Over Year

MT Newswires Live17:47

European Union new car registrations jumped 4.5% year-over-year to 708,211 in August amid rising energy prices and persistent geopolitical uncertainty, the European Automobile Manufacturers' Association, or ACEA, said Thursday.

The increase was 5.3% to 7.55 million during the January to August period, according to ACEA data.

Tesla (TSLA) registrations increased 52.7% to 12,547 vehicles in August from 8,219 a year earlier, while Ford (F) registrations fell 16.1% to 16,637. Honda (HMC) registrations rose 25.2% to 3,557, Toyota (TM) increased 1% to 53,968, and Stellantis registrations climbed 3.3% to 99,145, according to ACEA data.

Battery-electric vehicle registrations rose 44.9% to 1.64 million through August, lifting their market share to 21.7% from 15.8% a year earlier, ACEA said.

Hybrid-electric in the region grew by over 11% to 2.76 million, bringing its market share to about 37%. Plug-in hybrids reached a 10% share as registrations jumped 8.8% to 758,082, the report said.

Petrol and diesel car registrations were down in the EU by about 18.6% to 1.63 million and 550,692, respectively, and their combined share fell to 29% from almost 37.5%, ACEA data showed.

ACEA said demand for electrified vehicles remained strong, supported by market measures and a wider range of available models.

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