VWAGY - EU car registrations rise 11.5% in February

2023-03-22 09:51:40 ET

The EU passenger car market continued to perform well in February 2023, with new car registrations +11.5% to 802,763 units, according to the latest data released by The European Automobile Manufacturers' Association.

Although there was a rise in the number of battery electric and hybrid cars registered in the EU during the month, petrol continued to be the top choice for newly-registered cars, with a market share of 36.9%. Registrations of new petrol cars grew 11.1% in the month.

Battery electric and hybrid cars represented 12.1% and 25.5% of the market respectively, with battery electric vehicle registrations +39.7% and hybrid electric vehicles sale +22.3%.

Most EU markets showed strong growth, including the four largest ones, with Spain and Italy experiencing the most significant increases (+19.2% and +17.4% respectively).

Overall, the EU market reached almost 1.6M new cars registered in the first two months of the year, up 11.4% from the previous year. The growth was driven by double-digit increases in both January and February.

A look at the 12-month trend of new passenger car registrations in the EU:

Tickers to watch: Volkswagen ( OTCPK:VWAGY ); Stellantis ( STLA ); Renault ( OTCPK:RNSDF ); Toyota ( TM ) ; Ford ( F ); Volvo ( OTCPK:VLVLY ).

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