Europe Passenger Car Sales Strengthen In February

multibrandwarehouse jun06 21mar23 lt

European new passenger car registrations continued to strengthen in February albeit due to the low base of comparison given the semiconductor shortage crisis at the beginning of 2022, data from the Brussels-based European Automobile Manufacturers' Association, or ACEA, showed Tuesday.

Passenger car sales increased 11.5 percent on a yearly basis to 802,763 units in February. This followed an 11.3 percent rise in January.

Most EU markets registered robust growth, including the four largest ones in February. Sales in Spain and Italy showed the most significant increases of 19.2 percent and 17.4 percent, respectively.

In the first two months of the year, the EU car registrations reached 1.6 million units. Sales posted an annual growth of 11.4 percent, thanks to double-digit increases in both January and February.

In February, battery electric cars represented 12.1 percent of the market and hybrid cars represented 25.5 percent. Nonetheless, petrol remained the top choice, with a market share of 36.9 percent.

Battery electric vehicle registrations surged 39.7 percent and hybrid electric vehicle sales advanced 22.3 percent. By contrast, registrations of plug-in hybrid vehicles in the EU decreased 7.4 percent.

Registrations of new petrol cars in the EU rose 11.1 percent, while diesel car sales declined 8.4 percent, data showed.

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