New car registrations in EU up 10.1 percent in February

New EU car sales rose 10.1 percent in February 2024, with the battery-electric market share remaining stable at 12 percent, according to data from the ACEA. Petrol models retained their lead as the most popular choice for buyers, followed by hybrid-electric. Diesel sales dropped in most major markets, except Germany.

In February 2024, the EU car market surged by 10.1 percent compared to the same month last year, reaching 883,608 units. Among the four major EU markets, France (+13 percent) and Italy (+12.8 percent) grew by double-digits, with Spain (+9.9 percent) and Germany (+5.4 percent) following.

In the first two months of this year, car registrations grew by 11.2 percent to 1.7 million units. The bloc’s major markets recorded solid growth, with Germany (+11.8 percent), Italy (+11.7 percent), France (+11.2 percent), and Spain (+8.7 percent) recording high single-digit or double-digit gains.

New EU car registrations by power source

In February, battery-electric cars held a market share of 12 percent (stable compared to February 2023), while hybrid-electric cars captured nearly 29 percent. The combined market share of petrol and diesel cars was 48.4 percent in February 2024, a decrease from 51.9 percent last year.

Electric cars

In February 2024, battery-electric car sales grew by a modest 9 percent to 106,187 units, maintaining a stable market share of 12 percent. Among the four largest markets, Belgium (+66.9 percent), France (+31.8 percent), and the Netherlands (+20.9 percent) saw significant double-digit gains, while registrations in Germany declined by 15.4 percent.

Sales of new hybrid-electric cars surged by 24.7 percent, driven by substantial growth in the four largest markets: France (+41.5 percent), Spain (+26.5 percent), Germany (+16.4 percent), and Italy (+16.1 percent), which collectively account for over 70 percent of EU sales. Sales totalled 255,511, accounting for 28.9 percent of the market.

Registrations of plug-in hybrid electric cars also increased by a notable 11.6 percent to 64,351 units, stemming from solid growth in key markets like Germany (+22.3 percent), Belgium (+21.8 percent), and France (+11.8 percent). Plug-in hybrid electric cars now represent 7.3 percent of EU car sales.

Petrol and diesel cars

In February 2024, the EU petrol car market expanded by 6.1 percent, primarily driven by increases in the four largest markets, notably in Italy (+33.4 percent), along with Spain (+3.7 percent), Germany (+2.3 percent), and France (+2.1 percent). Although petrol remains the most popular power source among buyers, its market share dropped from 36.9 percent to 35.5 percent this year. By contrast, the EU diesel car market contracted by 5.1 percent in February. A decline was recorded in several markets, including three of the largest: France (-30.5 percent), Spain (-17.4 percent), and Italy (-11.8 percent). Germany diverged from this trend, with diesel sales growing by 9.7 percent. Diesel car sales reached 113,891 units, accounting for a market share of 12.9 percent, down from 15 percent last year.