According to the latest data released by the European Automobile Manufacturers Association (ACEA), the sales volume of the EU passenger car market reversed its downward trend in October 2024, with a slight increase of 1.1%. Spain led the way with strong growth of 7.2%, while Germany rebounded after three consecutive months of decline, growing by 6%. France (-11.1%) and Italy (-9.1%) both experienced a decline.

In the first 10 months, the number of new car registrations in the EU remained stable (+0.7%), reaching 8.9 million units. The markets of Spain (+4.9%) and Italy (+0.9%) performed well, while France and Germany experienced declines (-2.7% and -0.4%, respectively).

In October, the market share of pure electric vehicles in the European Union remained stable at 14.4%. So far this year, sales have decreased by 4.9%, and market share has also dropped from 14% last year to 13.2%.

The registration of plug-in hybrid electric vehicles also decreased by 7.2% in October. This month, the market share of this type of car reached 7.7%, a decrease of 0.7 percentage points compared to the same period last year.

Electric vehicle

In October, the registration of electric vehicles increased by 2.4% to 124,907 units. However, the market sales so far this year are still 4.9% lower than the same period last year, with a total market share of 14.4%. This decline is mainly due to a significant decrease in registration volume in Germany (-26.6%).

In October, the registration of plug-in hybrid vehicles decreased by 7.2%, following a significant decline in registration in France (-26.9%) and Italy (-24.9%). In October, plug-in hybrid vehicles accounted for 7.7% of the automotive market, down from 8.4% last year. Sales have also declined so far this year, with a decrease of 7.9% compared to the same period last year.

In October, the registration of hybrid vehicles increased by 17.5%, and the market share rose from 28.6% in October last year to 33.3%, surpassing the registration of gasoline vehicles for the second consecutive month.

Gasoline and diesel vehicles

In October, the overall sales of gasoline cars decreased by 6.8%. France experienced the largest decline, with a 32.7% drop in registration volume, followed by Italy with a 10.1% decrease. The decline in Spain was relatively small, at 1.6%, while Germany was the only major market to see growth, with gasoline car registrations increasing by 3.7%.

Gasoline vehicles currently hold a market share of 30.8%, lower than the 33.4% in the same period last year. The diesel car market decreased by 7.6%, resulting in a market share of 10.9% in October last year. Overall, nearly two-thirds of the EU markets have experienced a decline.

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