Sales of new cars in the European Union experienced a significant rebound in March with more than a million vehicles sold, the first since June 2021, according to figures published on Wednesday by the association of manufacturers (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 especially in Spain (+66.1%) and Italy (+40.7%). However, the comparison base is very low, since the month of March 2022 had been paralyzed by the shortage of electronic components, a situation that has since improved significantly, although it is not fully 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. Again it is Spain (+44.5%) and Italy (+26.2%) that have advanced the most, followed by France (+15.2%).
Volkswagen and Stellantis drive the market up
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 base ourselves on the first quarter-. Hybrids already have a 24.3% market share, 1.6 points more than in March 2022. On the other hand, plug-in hybrids are losing ground with a 7.3% market share, compared to 8.8 % from a year ago. The end of the subsidy rules for this type of vehicle in Germany, the largest market on the continent, caused a 38.5% drop in sales in the country. Petrol engines continue to dominate the market with 37.5% of the market, even gaining some ground (+0.4 points compared to last year) while the share of diesel continues to decline, down to 14.5% (- 1.1 points in a year) .
The Volkswagen group launched the market with 275,757 units sold (+35%), as did Stellantis, which recovered well and registered 216,862 new car sales (+28.7%). Strong upturns in sales for Renault (+30.4%) and Toyota (+25.3%) as well, while Hyundai-Kia continues to set an era with a minimal increase in sales (+8.9%) after a strong growth in 2022. The Korean manufacturer is therefore losing market share.
Source: BFM TV
