Seventh consecutive month of increase in new car registrations in Europe. The VW group but also Renault are having a good start to the year.
Sales of new cars in the European Union continued to rebound in February, again thanks to sales of the Volkswagen group and Dacia, according to figures published on Tuesday, March 21 by ACEA (Association of European Automobile Manufacturers).
Favorable basis of comparison
Sales reached 802,763 units in February, an increase of 11.5% year on year. The basis for comparison, however, is very low: February 2022 was paralyzed by shortages of electronic components.
Among the main markets, Italy, Spain and France in particular recorded strong rebounds.
Sales of electric vehicles have recovered after a decline in January, in particular linked to the reduction in subsidies for purchases in Germany, the continent’s largest market. Electrics now represent 12.1% of the market and hybrids 25.5%.
On the contrary, plug-in hybrid vehicles have seen their sales decline, again due to changes in subsidy rules in Germany, according to ACEA. They represent 7.2% of market share.
It is mainly diesel engines that are declining with 15% market share (-8.4%). Gasoline cars still dominate Europe with a market share of 36.9%, stable over one year.
Volkswagen ahead of Stellantis and Renault
The growth of the new car market in February is notably linked to the strong rebound of the European leader, the Volkswagen group (+18.2%), which with 208,503 units reached 26% market share. The entire Volkswagen group recorded an increase in sales in February: +19% for Audi, +18.4% for Skoda or even +38.8% for Porsche. Seat’s sports label, Cupra, saw its sales increase by almost 56%, in full expansion.
The other winner of this month of February is the Renault group, and especially its low-cost brand Dacia. Its registrations increased by 49.2% in February. Overall, the Renault group is growing strongly (+26.3%), with 86,779 registered units and 10.8% market share.
The Toyota group also pulled out of the game last month. The Japanese manufacturer is also progressing (+14.6%), with 7.3% market share, while Hyundai-Kia is skating after strong growth in 2022 (+1.4%, 8.4% market share).
The number 2 manufacturer in Europe, Stellantis remains at a low level with 153,684 units and 19.1% market share (+1.6%), with poor performance at Citroën.
As for premium brands, Mercedes rebounded by 8.5% while the BMW group fell by 2.2%, held back by Mini. Tesla continues to grab market share, at 2.4% for nearly 20,000 cars sold.
