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Financial News: Europe Car Registrations Surge 13.7% In April: ACEA

Europe Car Registrations Surge 13.7% In April: ACEA

05/22/2024 - 03:52:00 (RTTNews)

(RTTNews) - New car sales in the EU rebounded sharply in April, thanks to strong demand among four major markets, especially Spain and Germany, monthly data from the European Automobile Manufacturers' Association, or ACEA, showed Wednesday.

New car registrations rose 13.7 percent year-over-year to 913,995 units in April, reversing a 5.2 percent fall in March.

This growth can be partly explained by the fact that there were two extra sales days compared to the same month last year, when Easter holidays fell in April, the ACEA said.

Among the four major markets, the Spanish market showed the strongest sales growth of 23.1 percent, followed by Germany with a 19.8 percent rise.

Car sales in France also logged double-digit growth of 10.9 percent over the year, and sales demand in the Italian car market was 7.7 percent higher.

In April, battery electric car sales showed an increase of 14.8 percent annually, with the market share remaining broadly stable at 12 percent.

Strong growth was also seen in hybrid-electric vehicles, with registrations rising 33.1 percent in April.

The EU's petrol car sales expanded by 7.3 percent, but its market share dropped to 36.0 percent in April from 38.1 percent a month ago.

Meanwhile, the market for diesel cars stayed stable at about 118,000 units, or roughly 13 percent of the total.

In the first four months of this year, the number of new car registrations in the European Union rose by 6.6 percent to around 3.7 million units.

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