Registrations experienced a 3% decline in May versus the same period in the previous year.
EU's new car market is facing a significant slump. Acea announced a three percent drop in new registrations in May compared to last year, with electric car sales taking a notable hit. Sales of conventional vehicles also took a dip, except for Germany and Italy, where hybrid demand was higher.
Europe-wide electric car registrations dropped by 12 percent to 114,308. Their market share dropped from 13.8 to 12.5 percent, with Germany experiencing a 30 percent decrease in new registrations. The Netherlands saw a 11.7 percent drop in electric car registrations.
There were 323,551 new gasoline car registrations - a 5.6 percent decrease. France saw a substantial drop (20.3 percent), while Italy (4.1 percent) and Germany (2.1 percent) saw minor increases. The decline in diesel car registrations was more pronounced at 11.4 percent, with only Germany recording an increase (3.2 percent).
The number of new plugin hybrid registrations decreased significantly by 14.7 percent. Registrations of cars with hybrid drive without plugin function fell by 16.2 percent. However, their market share rose from 25 to 30 percent. Classical internal combustion engines accounted for 48.5 percent of the market share.
Consultant Constantin Gall of EY deemed the demand weak and saw no signs of improvement. He blamed the weak economy, geopolitical tensions, inflation, and uncertainty about the future of electromobility for the slump in the European new car market.
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The decline in new car registrations in May was only 3% when compared to the previous year's month. This drop was observed across various sectors, including a 12% decrease in EU's electric car registrations.
In the previous year's month, there were more new car registrations than in May, marking a change in market trends. The percentage drop in new car registrations was lower than the decrease in electric car registrations, indicating a mixed performance in the market.
Last year, the number of new registrations was higher than the number of new registrations in May 2023. This number includes registrations of new cars like the new model, but also includes registrations of cars from the previous year's model.
The previous year's month saw higher new car registrations in May than the current year, with a decline of only 3%. This decline can be compared to the market as a whole, which includes registrations of new cars, electric cars, hybrid cars, and classical internal combustion engine cars.
