Europe’s automotive industry disappoints, but does not surprise. Registrations are slow for months and the first half of 2024 Western Europe (EU+EFTA+UK) closed with modest growth: +4,4% compared to the same period in 2023.
However, if we compare the data with those of the pre-pandemic period, that is, with respect to the first half of 2019, the drop is as much as 18.4%. Considering that the area’s gross domestic product has already recovered pre-crisis levels, the sector is proving to be lagging behind the overall economy.
In June alone, 1,310,989 cars were registered in the area, with a growth of 3.6% on an annual basis. It is also thought-provoking that result of electric carswhich cannot take off without incentives.
Market shares by food
In the first half of this year, the share of battery-powered vehicles in Western Europe (EU+EFTA+UK) fell to 13.9% from 14.2% in the same period last year. Even in Germany, there was a significant decline (from 15.8% in the first half of 2023 to 12.5%).
Looking only at European data, in the last month the market share of battery-powered cars fell from 15.1% in 2023 to 14.4%; that of petrol and diesel cars went from 49.6% to 47.1%, while that of hybrids rose from 24.4% to 29.5%.
In the first half of the year, registrations of electric cars increased by 1.3% in Europe and by 1.6% in Western Europe (EU+EFTA+UK); those of plug-in hybrid cars fell by 2.5% (+1.4% in EU+EFTA+UK); hybrids recorded a +22.3% (+21.2% in EU+EFTA+UK); petrol cars remained rather stable with a -0.5% (-1.5% in EU+EFTA+UK) and diesel cars lost 7.4% (-7.9% in EU+EFTA+UK).
Article under update.
Source: it.motor1.com
