Sales of new cars in the European Union – all engine types – recorded a decrease of 3% in May. Three of the four main markets recorded significant declines: Italy (-6.6%), Germany (-4.3%) and France (-2.9%). In contrast, Spain saw a significant increase of 3.4% in the same month.
What’s wrong with electrics?
Data from the European Automobile Manufacturers’ Association (ACEA) also indicate a worrying decline in electric vehicle sales in May 2024. Electric car registrations fell by 12% compared to the previous year, reaching 114,308 units, representing a market share of 12.5%, compared to 13.8% in May 2023. This decline is particularly marked in Germany (-30.6%) and the Netherlands (-11.7%).
One of the main obstacles is the high Price of the models currently available on the market, with an average cost of around 40,000 euros. Motorists are waiting for more affordable models, such as the future Fiat Grande Panda and Citroën ë-C3, which will be released by 2025. In addition, the uncertainty surrounding the ban on sales of thermal cars in 2035 is creating some hesitation among manufacturers and consumers. This situation could continue to weigh on the electric vehicle market in the short term.
Not all countries are affected, however: Belgium, for example, is now the third largest market in terms of volume for electric cars, with a market share reaching 26.8% (+44.8% compared to May 2023). In France, sales of electric vehicles continue to grow, representing 16.9% of sales compared to 15.6% last year. However, these increases are not enough to offset the declines observed elsewhere.
During the period from January to May, a total of 556,276 new electric cars were registered, an increase of 2% compared to the same period last year.
Despite the slowdown, new car registrations in the first five months of 2024 increased by 4.6%, reaching 4.6 million units sold. The largest EU markets all showed positive performances, with Spain leading the way (+6.8%), followed by Germany (+5.2%), France (+4.9%) and Italy (+3.4%).
While electric car sales are declining, pure hybrid vehicles continue to gain ground in Europe. Their market share increased from 25% in May 2023 to almost 29.9% in May 2024. Hybrid car registrations increased by 16.2% to 272,568 units. The French (+38.3%), Spanish (+25.4%) and Italian (+7.4%) markets all recorded solid gains, while Germany saw a slight decline of 0.7%.
Sales of petrol cars decreased by 5.6% in May 2024, to a total of 323,551 units. The largest declines were recorded in France (-20.3%) and Spain (-1.8%), while Italy and Germany saw modest growth rates of 4.1% and 2.1%, respectively. As a result, the market share of petrol cars in the EU decreased from 36.5% to 35.5% compared to May of the previous year.
The diesel car market saw an even more pronounced decline of 11.4%, reaching 118,733 units, representing a market share of 13%. Significant decreases were observed in Italy (-30.5%), France (-24.8%) and Spain (-15.4%), while Germany recorded a slight increase of 3.2%.
🟣 To not miss any news on the WorldOfSoftware, , .