Financial News: Europe New Car Registrations Decline In January

Europe New Car Registrations Decline In January

(RTTNews) - Europe's new car registrations declined in January as sales weakened across three major markets, the European Automobile Manufacturers' Association said Tuesday. New car sales decreased 2.6 percent from a year ago, in contrast to the 5.1 percent increase in December.

Car registrations declined 6.2 percent in France and by 5.8 percent in Italy. Germany reported a moderate fall of 2.8 percent. On the other hand, Spain recorded a 5.3 percent increase.

Overall car sales declined despite a surge in electric car demand. Hybrid-electric vehicles became the first most preferred choice among EU car buyers. Hybrid-electric vehicle sales surged ahead, commanding nearly 34.9 percent of the market. Sales of hybrid-electric cars climbed 18.4 percent boosted by sharp increases in the four biggest markets.

Battery electric vehicles made up 15 percent of the market share as new battery-electric car sales advanced 34 percent.

However, registrations of plug-in hybrid electric cars declined 8.5 percent to 61,406 units.

Further, data showed that the combined market share of petrol and diesel cars was 39.4 percent, down from 48.7 percent in the same period last year.

Petrol car sales slid 18.9 percent annually. Similarly, the diesel car market declined 27 percent, resulting in a 10 percent market share for diesel vehicles last January.

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