EU New Car Registrations Rose in 2024

The European Union (EU) automotive market experienced a notable uptick in new car registrations in 2024, with a 13.7% increase in April compared to the same month in 2023. This growth was driven by strong increases across all major markets, including Spain (+23.1%), Germany (+19.8%), France (+10.9%), and Italy (+7.7%). The rise in registrations can be attributed to several factors, such as the presence of two extra sales days in April 2024, increased demand for electric vehicles (EVs), and growth in major markets.



The shift in consumer preferences towards electric vehicles (EVs) played a significant role in the overall market growth. Battery-electric cars maintained nearly 12% of the EU car market, while hybrid-electrics rose to 29.1%. The combined share of petrol and diesel vehicles dropped to less than half the market, at 48.9%. This trend is likely to continue, driven by stricter emission regulations and improving battery technology.

However, the sustainability of these trends in the long term depends on various factors, such as economic conditions, interest rates, supply chain issues, and changing attitudes towards vehicle ownership. The overall health of the economy, particularly in Germany, may impact consumer confidence and purchasing power, affecting new car sales. High interest rates can make car financing more expensive, potentially reducing demand for new vehicles. Supply chain issues, while largely resolved, could still impact the availability of new cars and hinder sales growth. Changing attitudes towards vehicle ownership, such as the increasing popularity of car-sharing and subscription models, may lead to a decrease in new car sales in the long term.

In conclusion, the rise in EU new car registrations in 2024 was driven by a combination of factors, including extra sales days, increased demand for EVs, and growth in major markets. However, the sustainability of these trends depends on various economic, technological, and consumer behavior factors. As governments continue to promote the adoption of low-emission and electric vehicles through incentives and stricter regulations, the automotive market is expected to remain dynamic and evolving in the coming years.