Electrified Vehicles Drive European Auto Sales Growth, Chinese Brands Gain Market Share

Deep News
07/23

Data released on Thursday by the European Automobile Manufacturers' Association (ACEA) indicates that growth in the European car market in June was again underpinned by demand for electrified models, offsetting significant declines in sales of petrol and diesel vehicles. An overall increase in new car registrations, a key industry sales indicator, helped Chinese automakers further expand their market share within the European Union, the United Kingdom, and the European Free Trade Association region.

Total passenger car registrations rose by 13.1% year-on-year to 1,407,332 units. Registrations for battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles surged by 51%, 22.7%, and 17.1% respectively. Combined, these three categories accounted for over 80% of all new car registrations. In contrast, registrations for petrol and diesel vehicles fell by 12.2% and 16.9% year-on-year.

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