The European car market has slowed its growth. In March, for the first time this year, registrations were down on the same period last year: -2.8%. According to data published today by ACEA, car registrations in all the countries of the enlarged European Union plus EFTA and the United Kingdom (EU 27 + EFTA + United Kingdom. Data for Malta is not currently available) totalled 1,383,410 units.
However, the cumulative figure for the first quarter of the year remained positive (3,395,049 units, +4.9% year-on-year). In the third month of the year, of the five main markets (including the UK), only the UK recorded growth (+10.4%), while Germany (-6.2%), Spain (-4.7%), Italy (-3.7%) and France (-1.5%) fell.
Looking instead at the fuels used by registered cars, the penetration share of pure electric cars (BEVs) reached 14.2%, once again outstripping diesel (10.1%).
Market share by engine
In the EU zone+EFTA+UK, alternative fuel cars increased by 4.9%; in particular, BEV cars fell (-11%, with a share of 14.2%), while conventional hybrids continued to rise (+15.4%, with a share of 30.6%). In all, 720,000 hybrids of all types and electric cars (52.1% of the market) were registered. Together, BEVs and PHEVs achieved a share of 21.4%.
Who's winning and who's losing?
Registrations by brand in Europe in March 2024 (EU 27+EFTA+UK) show that the Renault group continues to do well thanks to Dacia (+6.3%), while within the Volkswagen group (still leader in Europe with the largest market share) Skoda (+1.9%), Cupra (+5.2) and Porsche (+9.2%) performed well in March. Within Stellantis, only Jeep (+7.2%) recorded positive results.
Group | Share % 2024 | Units in March 2024 | Var % chg 24/23 |
Volkswagen Group | 23,4% | 323,773 | -6,6% |
Stellantis | 16,5% | 228,740 | -8,7% |
Renault | 8.9% | 123,603 | +2.7% |
Hyundai Group | 8.1% | 112,692 | -5.6% |
Toyota Group | 7.4% | 102,400 | +10.9% |
BMW Group | 7% | 96,961 | -0.9% |
Mercedes Benz | 5.9% | 81,717 | +2.8% |
Ford | 3.5% | 48,161 | -21.7% |
Nissan | 3.8% | 51,988 | +19.3% |
Volvo Cars | 2.8% | 38,582 | +32.5% |
Tesla | 2.9% | 40,109 | -34.9% |
SAIC Motor | 1.9% | 25,992 | +8.5% |
Suzuki | 1.7% | 24,109 | +19.9% |
Mazda | 1.5% | 20,227 | -14.5% |
Jaguar Land Rover Group | 1.8% | 24,649 | +13.6% |
Honda | 0.9% | 12,754 | +64% |
Mitsubishi | 0.8% | 11,586 | +200.6% |