EU new car demand edges up despite 6% drop in EV demand

Brussels – New car registrations rose slightly in 2024, increasing by 0.8% year-on-year to 10.6 million units.

Spain was the biggest contributor to the growth with a “solid” 7.1% year-on-year increase in demand, reported the ACEA (European Automobile Manufacturers' Association) 21 Jan.

Of the top four markets, France and Germany posted declines of 3.2% and 1% respectively while Italy saw a marginal 0.5% year-on-year increase in demand.

In December 2024, new EU car registrations rose by 5.1% with Spain leading the way with a double-digit 28.8% increase compared to December 2023.

France reported a modest 1.5% rise compared to the year before, while Germany and Italy observed declines of 7.1% and 4.9% respectively.

Breaking down registrations by power source, ACEA said battery-electric vehicles (BEVs) remained the third-most-popular choice for buyers in 2024.

In December, BEV market share stood at 15.9%, contributing to a 13.6% share for the full year, surpassing diesel, which declined to 11.9%.

Petrol cars retained their lead at 33.3%, while hybrid-electric cars strengthened their second position, commanding a 30.9% market share.

During the final month of the year, registrations of BEVs fell by 10.2% year-on-year to 144,367 units, primarily driven by a significant decrease in registrations in Germany (38.6%) and France (20.7%).

For the full year, demand for BEVs fell 5.9% compared to 2023, said ACEA.

Plug-in hybrid car registrations rose by 4.9% last month, driven by significant increases in France (44.9%) and Germany (6.8%).

While December saw a rise in demand for hybrid vehicles, the “year-total volumes” for 2024 were down by 6.8% compared to 2023.

Demand for hybrid-electric registrations increased by 33.1% year-on-year in December, with market share rising to 33.6%, up from 26.5% last December.

December also saw demand for petrol car registrations dropping by 1.8% year-on-year with all major markets showing declines except Spain, which saw an increase of 16%.

The diesel car market declined by 15% during the month, resulting in a 9.8% market share for diesel vehicles in the final month of 2024.