Mon. Jul 15th, 2024

In the European Union, the demand for new cars is falling: what is the problem

Natasha Kumar By Natasha Kumar Jun22,2024

The demand for new cars is falling in the European Union: what is the problem

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In May, passenger car registrations in the European Union decreased by 3% in annual terms, to 911,697 cars.

This is evidenced by the data of the Association of European Automobile Manufacturers, reports Ukravtoprom.

It is noted that gasoline car sales fell by 5.6% to 323,551 units, the diesel car market fell even more by 11.4% to 118,733 .

At the same time, the registration of electric vehicles (BEV) decreased by 12%, to 114,308 units, and the demand for plug-in hybrid cars decreased by 14.7% – to 59,333 units. .

The only market segment where growth was recorded is hybrid cars (HEV). HEV registrations increased by 16.2% to 272,568 cars.

< p>Demand for new cars is falling in the European Union: what is the problem

Demand is falling for new cars/UkrAvtoprom

Overall, in the five months of 2024, the market for new cars in the EU increased by 4.6% to 4.6 million units. Positive dynamics were demonstrated by the bloc's largest markets: Spain (+6.8%), Germany (+5.2%), France (+4.9%) and Italy (+3.4%).

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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