EU new car registrations up 12% in January

Brussels – The EU new car market returned to growth in January, following a year-on-year decline recorded in the final month of 2023.

New car registrations in January grew 12% year-on-year to 851,690 units, according to data provided by the European Automobile Manufacturers Association (ACEA) 20 Feb.

Notably, the bloc’s major markets all saw significant growth, with Germany leading with a 19.1% year-on-year growth.

Italy, France and Spain also posted increases of 10.6%, 9.2%, and 7.3% respectively.

During the month, battery electric cars accounted for 10.9% of the market share, up from 9.5% in January 2023.

Hybrid-electric cars held nearly 30% share of the market, solidifying their position as the second most preferred choice among EU car buyers.

The combined market share of petrol and diesel cars totalled almost 50% in January 2024, marking a decline from 54% one year ago.

New battery-electric car sales surged by 28.9% to 92,741 units during the month, while registrations of hybrid-electric cars increased by 23.5% over last year.

Sales of plug-in hybrid electric cars rebounded after a decline in December 2023, rising by 23.8% to 66,660 units in January.

The petrol car market expanded by 4% year-on-year, while the diesel car market contracted by 4.9%, according to ACEA.