Europe's car market continued to grow in June, mainly driven by sharply rising sales of electric and hybrid vehicles, which offset declines in fuel-powered car sales. Meanwhile, Chinese carmakers are rapidly gaining market share in Europe.
The European Automobile Manufacturers' Association (ACEA) revealed on Thursday (23 Jul) that new car registrations, used as a sales indicator, rose 13.1% compared to the same period last year, reaching 1,407,332 units. This figure covers the European Union (EU), the United Kingdom, and countries in the European Free Trade Association (EFTA).
A key factor driving the market was the continuously growing demand for electric and alternative energy vehicles. New registrations of battery electric vehicles (BEVs) increased by 51%, plug-in hybrid vehicles (PHEVs) rose 22.7%, and hybrids grew 17.1%. These three types accounted for more than 80% of all new car registrations in June.
Conversely, the popularity of internal combustion engine vehicles continued to decline, with petrol car registrations dropping 12.2% and diesel car registrations falling 16.9%.
ACEA's data also reflected that Chinese carmakers continue to expand their influence in the European market. BYD, Chery, and Leapmotor saw sales increase nearly 3 to 6 times compared to the previous year, while SAIC Motor grew by more than 50% and Geely by 11%.
Meanwhile, major European manufacturers also saw sales growth. Renault, Stellantis, and Volkswagen each recorded increases in new car registrations ranging from 3.6% to 7.3%.
These figures indicate that although Europe's car market is still growing, the main driver has shifted from combustion engine vehicles to electric and hybrid cars. Meanwhile, Chinese automakers are accelerating their market share expansion amid fierce competition in the European automotive industry.
Source:channelnewsasia
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