The European automotive market has started the new year with an upswing. After a slowdown in December 2023, registrations rose by 12.1% year-on-year to 851,689 units last month (in EU+UK+EFTA registrations were 1,015,381 with an increase of 11.5%).

It is particularly interesting to note that hybrid models remain the second most popular choice among buyers (with a market share of almost 30%), while electric cars account for 10.9% (last year's share was 9.5%).

All major markets recorded significant growth: Germany (+19.1 %), Italy (+10.6 %), France (+9.2 %) and Spain (+7.3 %).

Market shares by fuel

A closer look at the figures shows that the market for petrol vehicles grew by 4%, which is mainly due to developments in key markets such as Italy (+26.7%) and Germany (+16.9%). Although the market share of petrol vehicles remained the leader at 35.2%, it fell from 37.9% in the same month of 2023.

The decline in diesel vehicles continued more significantly (-4.9%) and the market share was 13.4% (2023: 15.8%). Hybrid vehicles continued to benefit from this development, increasing by 23.5%, driven by significant growth in the four most important markets: Spain (+26.5%), France (+29.9%), Germany (+24.3%) and Italy (+14.2%). This led to the sale of 245,068 units in the first month of 2024 (28.8% market share).

Sales of electric cars, on the other hand, increased by 28.9% to 92,741 units (10.9% market share), and sales of plug-in hybrids recovered after a decline in December 2023, increasing by 23.8% to 66,660 units (7.8% market share).

Figures for January 2024

  • Petrol: 35.2 %
  • Hybrid (MHEV+HEV): 28.8 %
  • Diesel: 13.4 %
  • Electric (BEV): 10.9 %
  • Plug-in hybrid (PHEV): 7.8 %
  • Other (liquid petroleum gas, methane, ethanol, hydrogen): 3.9 %

Who is rising and who is falling

The brand with the strongest growth in January was Mitsubishi (+96.8%), which sold 4,911 units compared to 2,496 in the previous year (the new Colt is the driving force here). The sharp rise at Tesla (+86.3 %) is also remarkable, which has now delivered 17,493 units (9,390 in January 2023). Next is the double-digit growth of Nissan (+38%), which delivered 26,839 cars in the first month of 2024, compared to 19,451 last year.

Mitsubishi Colt (2023)

Mitsubishi Colt (2023)

Looking at the larger volumes, it can be seen that the Volkswagen brand is still in the lead, albeit with a 5.2% decline to 95,498 units compared to 100,770 last year. Within the Stellantis Group, the best-selling brand continues to be Peugeot (57,447 units; +22.8%).

The report for January 2024

Brands in the plus Brands in the red
Mitsubishi (+96.4%) Mazda (-14%)
SAIC Motor (+69.5%) Ford (-10.2%)
Tesla (+66.9%) Mercedes-Benz (-7.5%)
Honda (+36.9%) Renault Group (-2.9%)
Volvo Cars (+34.9%)  
Nissan (+31.6%)  
BMW Group (+28.2%)  
Suzuki (+26.7%)  
Stellantis (+15%)  
Toyota Group (+15%)  
Volkswagen Group (+11.5%)  
Jaguar Land Rover Group (+10.6%)  
Hyundai Group (+0.5%)  

The January 2024 report in EU+UK+EFTA

Brands in the plus Brands in the red
Mitsubishi (+96.8%) Mazda (-15.9%)
Tesla (+86.3%) Mercedes-Benz (-10.6%)
Nissan (+38%) Ford (-6.1%)
BMW Group (+29.7%) Renault Group (-2.1%)

Honda (+27.2%)

 
SAIC Motor (+26.9%)  
Suzuki (+25.4%)  
Jaguar Land Rover Group (+25.3%)  
Volvo Cars (+25.2%)  
Stellantis (+16.9%)  
Toyota Group (+9.2%)  
Volkswagen Group (+8.1%)  
Hyundai Group (+1.2%)  

The ranking by brand and group

Looking at the results of the groups, it can be seen that only a few have recorded a decline compared to January 2023. Mazda (-15.9%) suffered the greatest loss of registered units, falling from a share of 1.6% in January 2023 to a share of 1.2% in January 2024.

At the top of the ranking is the Volkswagen Group (+8.1 %), whose share was 25.4 % with a total of 258,402 vehicles delivered; Stellantis (+16.9 %) with a share of 18 % and the Renault Group (-2.1 %) with a share of 9.2 % (it should be noted that the Dacia brand with 51.673 deliveries this month, up 7.7%; Renault is down 12.2% with 41,050 deliveries; Alpine is up from 177 to 212 units and has a 19.8% share).