The European automotive market entered a downward trend in electric vehicle sales again in November 2024. According to data shared by the European Automobile Manufacturers’ Association (ACEA), a total of 869,816 vehicles were registered in the European Union in November and the market contracted by 1.9%. Details in our news…
European automotive market closes November 2024 with a decline in electric vehicle sales
In the previous month (October), a slight growth of 1.1% was recorded. The decline in November is mainly attributed to poor performances in France (-12.7%) and Italy (-10.8%). Germany, on the other hand, was able to stabilize the situation with a slight increase of 0.5%. Spain was the best performing market with a growth of 6.4%.
First of all, 9,726,049 vehicles were registered in the European Union between January and November 2024. In other words, there was only a 0.4% growth in the total number of vehicles. Spain was positive with an increase of 5.1%, while France (-3.7%), Germany (-0.4%) and Italy (-0.2%) experienced declines. Including the UK and EFTA countries, a total of 11,876,655 vehicles were registered, a growth of 0.6% since the beginning of the year.
In November, electric vehicle registrations decreased by 9.5% to 130,757 units. The main reasons for this decline include major declines in Germany (-21.8%) and France (-24.4%). Since the beginning of the year, EV registrations have fallen by 5.4% compared to the same period last year. Electric vehicles accounted for 15% of the market in November and 13.4% for the year.
Plug-in hybrid registrations also fell by 8.8%. France (-19.6%), Belgium (-61.4%) and Italy (-31.4%) led the decline. The market share of plug-in hybrids fell to 7.6% in November (down from 8.1% last year). In contrast, full hybrids were up 18.5% in November, increasing their market share to 33.2%. This category managed to outpace gasoline vehicle registrations for the third month in a row.
In November 2024, sales of gasoline vehicles declined by 7.8%. France led the way with a big drop of 31.5%, while Italy (-12.3%), Germany (-5.4%) and Spain (-2.3%) also recorded declines. In November, 266,115 gasoline vehicles were registered, with a market share of 30.6% (down from 32.5% last year). Diesel registrations fell by 15.3%, accounting for only 10.6% of the market.
The Volkswagen Group recorded growth of 4.1% in November. Brands such as Cupra (26.1%) and Porsche (35%) showed significant increases, while Audi (-12.4%) and Seat (-9.5%) declined. The Stellantis Group had a difficult period with a decline of 10.1%, while Fiat fell by 42.1%. The Renault Group grew by 8.3%, with the Renault brand in particular standing out with 13.7%.
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