Sales reached 1,087,939 units in March, a year-on-year increase of 28.8%. The market experienced strong growth in all EU countries, but particularly in Spain (+66.1%) and Italy (+40.7%).
Sales of new cars in the European Union saw a significant rebound in March with more than one million vehicles sold, a first since June 2021, according to figures published on Wednesday by the manufacturers’ association (ACEA). Sales reached 1,087,939 units in March, a year-on-year increase of 28.8%. The market experienced strong growth in all EU countries, but particularly in Spain (+66.1%) and Italy (+40.7%). However, the basis of comparison is very low because the month of March 2022 had been paralyzed by shortages of electronic components, a situation which has since improved significantly even if it is not completely resolved.
During the first quarter of 2023, nearly 2.7 million new vehicles were sold, an increase of 17.9% compared to the previous year. It is once again Spain (+44.5%) and Italy (+26.2%) which have made the most progress, followed by France (+15.2%).
Volkswagen and Stellantis drive the market upwards
Electric vehicle sales now account for 13.9% of the market in March, up from a year ago. In one year, sales of electric motor vehicles have jumped 58% – and 43.2% if we are based on the first quarter. Hybrids now weigh 24.3% market share, up 1.6 points compared to March 2022. On the other hand, plug-in hybrids are losing ground with 7.3% market share, against 8.8% a year ago. The end of subsidy rules for this type of vehicle in Germany, the continent’s largest market, led to a 38.5% drop in sales in the country. Petrol engines continue to dominate the market with 37.5% of the market, even gaining a little ground (+0.4 points compared to last year) while the share of diesel continues to decline, to 14, 5% (-1.1 points in one year).
The Volkswagen group pulled the market up with 275,757 units sold (+35%), as did Stellantis, which recovered well and recorded 216,862 sales of new cars (+28.7%). Strong rebounds in Renault (+30.4%) and Toyota (+25.3%) sales also, while Hyundai-Kia continues to mark time with a minimal increase in sales (+8.9%) after a strong growth in 2022. The Korean manufacturer is therefore losing market share.
