VLVLY - EU new car registrations up 15.2% in July - ACEA report

2023-08-30 14:20:52 ET

The EU passenger car market continued to grow in July 2023, with new car registrations rising 15.2% to 851,156 units, according to the latest data released by the European Automobile Manufacturers' Association.

In July, battery electric and hybrid cars represented 13.6% and 7.9% of the market, respectively, with battery electric vehicle registrations growing 60.6% to 115,971 units. Hybrid electric vehicle registrations rose 31.6% for the month.

The petrol car market grew by 5% to 304,903 units, although market share fell to 35.8% from 39.3% for the same period last year.

From January to July, the EU car market recorded new car registrations of 6.3 million units.

For the seven-month period, all four of the EU's major markets reported double-digit percentage growth in registrations: Spain saw a gain of +21.9%, the highest among the rest, followed by Italy at +20.9%, France at +15.8%, and Germany at +13.6%.

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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