EU New Car Sales Rose in October With Help From Electric Vehicles
21 November 2023 - 8:29AM
Dow Jones News
By David Sachs
New car registrations in Europe rose in October, driven by
demand in France, Italy and Spain, and a jump in fully-electric
vehicle sales.
Registrations, which reflect sales, rose 15% to 855,484 in
October compared with a year ago, the European Automobile
Manufacturers' Association, known as ACEA, said Tuesday. France,
Italy and Spain posted double-digit increases, while Germany
registrations rose just 4.9%, reflecting the country's slowing
economy. New car sales rose 17% to about 8.8 million units for the
period of January through October, the industry group said.
Sales of fully-electric cars rose 36% to 121,808 units. EVs
gained market-share on gas-burning vehicles, accounting for 14.2%
of European sales, compared with 12% in October of 2022, ACEA said.
EVs accounted for 14% of all new car registrations from January
through October.
From January through October, Germany accounted for the most
fully-electric car registrations in the European Union with
424,623, a 38% increase over the same period last year. France saw
the second-most registrations with 230,089, a 46% rise. Belgium's
EV adoption has grown the quickest in the bloc, rising to 77,324
from 29,325 in the previous nine-month period.
October's overall sales figures represent the 15th consecutive
month of growth for the industry, ACEA said.
Of the big five EU carmakers, Renault posted the highest growth
rate in October. The French car company had a 24% increase in
registrations over last October for a total of 95,630 cars.
German carmaker Volkswagen had 210,251 registrations, a jump of
9.9% from last October.
Registrations for Stellantis, the Amsterdam-based maker of Jeep
and Dodge, rose 11% to 157,390.
German carmaker Mercedes-Benz saw registrations grow 12% to
48,292, and BMW Group saw an 18% rise to 57,807.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
November 21, 2023 02:14 ET (07:14 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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