Financial News: Europe Car Sales Increase In November

Europe Car Sales Increase In November

(RTTNews) - Europe's new car registrations increased for the fifth straight month in November, driven by robust growth in battery electric cars sales, data from the European Automobile Manufacturers' Association, or ACEA, showed Tuesday.

Car registrations grew 2.1 percent year-on-year in November but slower that the 5.8 percent rise seen in October.

In November, battery-electric car sales surged 44.1 percent from a year ago. Sales of plug-in hybrid advanced 38.4 percent, while that of hybrid electric vehicles grew only 4.2 percent.

In contrast, petrol car sales plunged 21.9 percent and sales of diesel cars declined 23.2 percent.

During January to November, new EU car registrations moved up 1.4 percent from the same period last year. Despite the recent positive momentum, overall volumes remained well below pre-pandemic levels, the lobby said.

In the year-to-date period, the battery-electric car market share reached 16.9 percent. Although it was in line with projections, there is still room for growth to stay on track with the transition, ACEA said.

The lobby observed that hybrid-electric vehicles lead as the most popular power type choice among buyers, with plug-in hybrids continuing to gain momentum.

Hybrid-electric car registrations captured 34.6 percent of the market in the eleven months to November. On the other hand, the combined market share of petrol and diesel cars fell to 36.1 percent from 45.8 percent in the same period last year.

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