EU new car registrations increase 11% in January

Brussels – EU’s new car registrations increase 11.3% year-on-year to 760,041 units during the month of January, with battery electric vehicles gaining a strong 9.5% market share.

In a statement 21 Feb, the European Automobile Manufacturers’ Association (ACEA) linked the positive development to “an unusually modest base of comparison” last year, when the lowest January volume on record was reached.

At a country level, the region’s positive performance was reflected in three of the four key markets.

The strongest gains were seen in Spain at 51.4% and Italy at 19.0%, followed by France which posted an 8.8% growth. Germany recorded a 2.6% decline last month.

During the first month of 2023, battery electric and hybrid passenger car registrations in the EU continued to grow, accounting for 9.5% and 26.0% of the market respectively.

Petrol remained the most popular fuel type for newly-registered cars in the EU, with a market share of 37.9%.