Financial News: Europe Car Sales Rebound In July

Europe Car Sales Rebound In July

(RTTNews) - Europe's new car sales rebounded in July on strong demand for battery electric and plug-in hybrid cars, the European Automobile Manufacturers' Association, or ACEA, reported Thursday.

Car registrations in the European Union advanced 7.4 percent year-on-year in July, offsetting June's 7.3 percent decrease.

Data showed an annual rise of 39.1 percent for battery-electric and 14.3 percent for hybrid-electric cars sales, while plug-in-hybrid electric recorded its fifth consecutive month of continuous strong growth with a 56.9 percent increase.

There was a 12.0 percent decline for petrol and 15.2 percent drop for diesel car sales.

Among largest economies, overall demand in cars in Germany grew 11.1 percent. Similarly, Spain reported a robust growth of 17.1 percent.

Meanwhile, France registered a 7.7 percent decrease and Italy logged a 5.1 percent drop in registrations.

In the year-to-date period, EU car registrations dropped 0.7 percent from the same period last year. During January to July period, the battery-electric car market share stood at 15.6 percent. Hybrid-electric car registrations captured 34.7 percent of the market and remained the preferred choice among EU consumers.

Meanwhile, the combined market share of petrol and diesel cars declined to 37.7 percent from 47.9 percent over the same period in 2024.

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