EU Car Sales Rose in February; Germany Drags EV Growth
By David Sachs
Registrations of new cars in the European Union rose in February, but electric-vehicle sales growth was dragged by a drop in Germany.
New car registrations--which mirror sales--grew 10% on year to 883,608 units February, driven by consumers in France and Italy, the European Automobile Manufacturers' Association, known as ACEA, said Thursday.
Monthly sales of fully-electric vehicles rose 9% to 106,000. However, this was modest compared with a 29% rise in January. EV sales in Germany, the EU's largest auto market, fell 15% in February, ACEA said.
Car-buyers opted for traditional hybrid cars, which burn more gasoline than plug-in hybrids, with sales surging 25% due to notable growth in the bloc's largest markets of France, Spain, Germany and Italy, ACEA said. French registrations of hybrids leaped 41.5% in February, helping the vehicle type to a 29% market share.
Mass-market carmakers increased sales in the region, as Jeep maker Stellantis posted a 12% jump, Volkswagen Group sales rose 9.8%, and Renault registrations ticked up 5.8%. Mercedes-Benz posted a 4% sales decline and BMW noted an increase of 3.3%.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
March 21, 2024 03:14 ET (07:14 GMT)
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