The European automobile market faced a challenging August 2024, with new car registrations falling by 18.3%. Major markets like Germany, France, Italy, and Spain all recorded sharp declines. Germany took the hardest hit with a staggering 27.8% drop, followed by France with 24.3%, and Italy with 13.4%. Even Spain, though faring slightly better, still saw a 6.5% reduction.
Battery electric vehicles (BEVs), which had been riding a wave of increasing popularity, saw their market share decrease dramatically. Registrations dropped by 43.9%, a significant fall from their 21% market share the previous year, now standing at just 14.4%. The decline was particularly pronounced in Germany and France, with BEV sales plummeting by 68.8% and 33.1%, respectively.
Hybrid electric vehicles (HEVs) were the only segment that showed growth, rising by 6.6%, largely buoyed by strong performances in Spain, France, and Italy. Petrol and diesel vehicles continued to lose ground, with both segments experiencing notable declines in sales and market share.
This August's numbers mark a stark contrast to the steady growth seen in recent years, raising questions about the future trajectory of Europe's car market and the viability of its electric vehicle revolution.
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