In the context of the European car industry, the year 2024 brought significant fluctuations in terms of new car registrations. In August 2024, the car market in the European Union registered a notable decrease of -18.3% compared to August 2023, reaching a volume of 643,637 units.
However, for the entire period January-August 2024, the market continued to be a stable one, registering a modest increase of +1.4%, with a total of 7,180,492 new cars registered in the EU. These figures reflect the evolution of the car market, which continues to be influenced by the transition to electric and hybrid vehicles.
The evolution of electric and hybrid cars
A key aspect of the European car market in 2024 is the transition to green mobility. In the first eight months of the year, 902,011 fully electric cars were registered, which represents a decrease of -8.3% compared to the same period in 2023.
In contrast, hybrid cars experienced a significant increase of +20%, reaching 2,639,470 registered units.
Regional performance: Spain and Italy up, Germany and France down
The performance on the car market has varied considerably between the member countries of the European Union.
Spain and Italy saw significant increases in new car registrations, with +4.5% and +3.8% respectively. In contrast, two of Europe’s largest car markets, Germany and France, recorded declines, with -0.3% and -0.5%.
Romania: Significant increase in new car registrations
Romania ranked 14th in the European Union, with 106,534 new passenger cars registered between January and August 2024. This represents a notable increase of +8.0% compared to the same period in 2023, demonstrating a constant demand on the local car market.
In terms of propulsion, 6,877 fully electric cars were registered, a decrease of -29%, while hybrid cars registered an impressive increase of +39.4%, with 39,388 units.
The top car manufacturers in Europe
From the point of view of car manufacturers, the Volkswagen group dominated the European market, with 2,253,034 registered units, an increase of +1.2%. STELLANTIS Group ranked second, with 1,401,967 units, but recorded a decrease of -3.3%. The Renault group registered an increase of +1.8%, with a total of 837,665 units, of which DACIA contributed 387,228 units, up +3.0%.
On the other hand, Ford brand cars saw a steep drop of -18.1%, with only 284,982 new units registered between January and August 2024, compared to the previous year.
Source: www.promotor.ro
