In February, new car registrations in the European Union (EU) experienced a notable increase of 10.1% compared to the same period last year, with hybrid-electric vehicles emerging as the standout performers. Countries like France and Italy led the charge, showcasing growth rates of 13% and 12.8%, respectively.
Rise of Hybrid-Electric Vehicles
Hybrid-electric cars witnessed a significant surge of 24.2% across the EU, the UK, and EFTA member states, surpassing other categories. Meanwhile, plug-in hybrid car registrations also saw a notable uptick of 12% in the same market.
Persistence of Petrol Cars
Despite the growth in electric and hybrid segments, petrol-fueled cars continue to dominate the market, comprising over one-third of total registrations. Petrol cars have maintained their market share, demonstrating a minimal decline from 36.9% to 35.5% since February 2023.
Decline in Diesel Car Registrations
Conversely, diesel car registrations experienced a decline of 5.1% across Europe, although they still hold a market share of 12%. Notably, France, Spain, and Italy witnessed notable drops in diesel sales, while Germany saw a modest increase of 9.7%.
Hybrid-Electric Cars Gain Momentum
Hybrid-electric vehicles are steadily gaining popularity across European markets, driven by substantial growth in France, Spain, Germany, and Italy. With notable increases ranging from 16.1% to 41.5% in these key markets, hybrid-electric cars continue to emerge as a preferred choice for consumers seeking a balance between fuel efficiency and environmental consciousness.
SOURCE: Ref Image from euronews.com
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