EU new car registrations up 15% in October

Brussels - The EU new car market grew by nearly 15% year-on-year in the month of October, recording new registrations of 855,484 units.

This marked the 15th consecutive month of growth, with notable double-digit increases in three of the largest markets, according to the European Automobile Manufacturers’ Association (ACEA).

France recorded nearly 22% year-on-year increase in new registrations, followed by Italy at 20%, and Spain at 18%, ACEA reported 21 Nov.

The German car market, however, reported a more modest year-on-year increase of 5% during the month.

Over the first ten months of the year, the market grew 16.7%, totalling nearly 9 million units.

All EU markets grew during this ten-month period except for Hungary.

Notably, the four largest markets saw major gains, with Italy posting a 20.4% year-on-year increase, followed by Spain at 18.5%, France at 16.5%, and Germany at 13.5%.

In terms of power source, October saw the market share of battery-electric cars rise to 14.2%, up from 12% in the same month last year.

The year-to-date share of BEVs now stands at 14%, surpassing diesel’s cumulative share for the first time.

Hybrid-electric cars secured second largest share of the market at nearly 29%, while petrol cars maintained their lead, albeit decreasing to 33.4% of the market.