Financial News: Europe Car Sales Fall Slightly In March

Europe Car Sales Fall Slightly In March

(RTTNews) - Europe's new car registrations declined marginally in March as the global economic conditions remained particularly challenging for auto makers, the European Automobile Manufacturers' Association, or ACEA, said Thursday.

Car registrations fell 0.2 percent on a yearly basis in March, which was slower than the 3.4 percent fall in February.

Car sales in France plunged 14.5 percent and German car sales decreased 3.9 percent. By contrast, Spain and Italy reported growth in annual sales in March. Sales in Spain logged a double-digit growth of 23.2 percent and that in Italy were up 6.3 percent.

In March, battery-electric car sales rose 17.1 percent and hybrid-electric cars sales climbed 23.9 percent. At the same time, plug-in-hybrid electric cars reported an increase of 12.4 percent.

There was an annual fall of 20.7 percent in petrol car sales and a 25.5 percent decrease in diesel car sales in March.

In the first quarter, new EU car registrations showed an annual decline of 1.9 percent.

Battery-electric vehicles accounted for 15.2 percent of total EU market share, signifying an increase from the low baseline of 12 percent in the first quarter of 2024. Battery-electric car sales advanced 23.9 percent.

Hybrid electric vehicles captured 35.5 percent of the market. Sales of hybrid-electric cars moved up 20.7 percent. Meanwhile, the combined market share of petrol and diesel cars fell to 38.3 percent from 48.3 percent from the same period last year.

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