VWAGY - EU new car registrations rose 28.8% in March to over 1 million vehicles

2023-04-19 16:27:29 ET

The EU passenger car market saw a significant growth in March 2023, with new car registrations +28.8% to 1,087,939 units, according to the latest data released by The European Automobile Manufacturers' Association.

In March, Battery electric and hybrid cars represented 13.9% and 24.3% of the market respectively, with battery electric vehicle registrations growth of 58% at 151,573 units. Hybrid electric vehicles sales rose 38.1% to 264,694 units in March.

Petrol car registrations in EU grew nearly 30% in March and made up for 37.5% of the market share.

For first quarter, three out of the EU's four major markets reported double-digit percentage growth in registrations -  Spain saw a gain of +44.5%, the highest among the rest, followed by Italy at +26.2%, and France at +15.2%. Germany's registrations saw growth of +6.5%.

In Q1, the EU car market recorded new car registrations of almost 2.7 million units, up 17.9% from last year.

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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