PARIS, April 18 (Reuters) – Sales of new cars in the European Union (EU) fell 5.2% in March from a year earlier, the first monthly decline this year and the largest since July 2022, the European body responsible for the automobile industry said on Thursday, citing the impact of an early Easter holiday and a slowdown in the market.
Europe’s top automakers, Volkswagen and Stellantis, have said the market will be complicated in 2024, due to weak global demand for electric vehicles, increased Chinese competition, sustained cost pressures and geopolitical tensions.
Car registrations in March fell 6.2% in Germany, 4.7% in Spain, 3.7% in Italy and 1.5% in France, according to data from the Association of European Manufacturers of automobiles (ACEA).
Sales of battery-electric cars fell 11.3% from the previous year, reflecting a broader market slowdown, according to ACEA, while registrations of hybrid-electric vehicles increased by 12.6%. %, mainly thanks to strong sales in France and Italy.
Growth in electric vehicle sales has slowed and investment in developing battery capacity and new technologies has outpaced demand, with many potential buyers put off by high cost and lingering doubts about the quality of the vehicle. ‘infrastructure.
Sales of hybrid electric cars, seen as a compromise between all-fuel and all-electric, have increased in the European Union in recent months, reaching 29% market share in March, up from 24.4% one year ago.
Electrified vehicles – fully electric, plug-in hybrid or full hybrid models – sold in the EU accounted for 49.1% of all new passenger car registrations in March, up from 45.5% the previous year.
Registrations of Europe’s three largest car manufacturers, Volkswagen, Stellantis and Renault, all fell in March, by 9.0%, 12.6% and 2.1% respectively.
Tesla sales were down 30.4% compared to last year. (Reporting Alessandro Parodi and Greta Rosen Fondahn; French version Mathias de Rozario; edited by Blandine Hénault)