The European Union’s automotive market saw a modest but encouraging growth of 1.1 percent in new car sales in October 2024, according to data from the European Automobile Manufacturers’ Association (ACEA).
As reported by the Serbian Association of Vehicle and Parts Importers, Spain led the way with a strong 7.2 percent increase, while Germany, the EU’s largest car market, also recorded significant growth of 6.0 percent after three consecutive months of declining sales. However, France experienced a sharp drop in sales by 11.1 percent, while Italy saw a 9.1 percent decline.
In October 2024, a total of 866,397 new passenger vehicles were sold, compared to 856,762 in October 2023. Over the first ten months of 2024, sales of 8.9 million vehicles were reported, showing stable performance compared to the same period last year.
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Vehicle Sales by Powertrain Type
Fully Electric Vehicles – The market share of fully electric cars in October remained unchanged at 14.4 percent. However, sales volume dropped by 4.9 percent compared to the same month last year. The market share for January–October 2024 also decreased to 13.2 percent, down from 14 percent in 2023.
Electric vehicle registrations in the EU increased by 2.4 percent in October 2024, with 124,907 units sold compared to 121,989 in October 2023. The decline in market share over the ten-month period was largely attributed to a sharp 26.6 percent sales drop in Germany, the EU’s largest car market, which surprised even the most pessimistic forecasts.
From January to October 2024, 1,172,737 electric vehicles were sold, compared to 1,232,937 during the same period in 2023.
Plug-In Hybrid Vehicles – Plug-in hybrid sales dropped by 7.2 percent in October, with their market share declining to 7.7 percent from 8.4 percent in October 2023. France recorded the largest decrease, at 26.9 percent, followed by Italy with a 24.9 percent drop.
In October 2024, EU buyers purchased 66,964 plug-in hybrids, down from 72,154 units in October 2023. Over the ten-month period, 617,409 plug-in hybrids were sold in 2024, compared to 670,530 in 2023.
Conventional Hybrid Vehicles – Sales of conventional hybrids rose by 17.5 percent in October 2024, with their market share increasing from 28.6 percent in October 2023 to 33.3 percent. A total of 288,160 hybrid vehicles were sold in October 2024, compared to 245,308 in October 2023.
This marks the second consecutive month in which hybrid vehicle sales surpassed those of petrol-powered vehicles in the EU market. From January to October 2024, 2,692,726 hybrid vehicles were registered, compared to 2,247,298 in the same period of the previous year.
Petrol-Powered Vehicles – Sales of petrol-powered cars dropped by 6.8 percent in October 2024, though Germany bucked the trend with a 3.7 percent increase in market share. Petrol vehicles accounted for 30.8 percent of the market in October 2024, down from 33.4 percent in October 2023. A total of 266,498 petrol cars were registered in October 2024, compared to 285,845 in the same month last year.
Over the ten-month period, 3,011,926 petrol vehicles were sold in 2024, compared to 3,159,823 in 2023.
Diesel Vehicles – Diesel cars continued to lose market share in the EU, with a 7.6 percent drop in sales in October 2024, reducing their share to 10.9 percent. In October 2024, 94,587 diesel vehicles were sold, compared to 102,414 in October 2023. From January to October 2024, 1,087,459 diesel cars were sold, down from 1,219,014 in the same period last year.
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