In August 2024, new EU car registrations saw a sharp decrease (-18.3%)
Consumers in core markets of Germany, France, Italy and Spain drove an 18% on-year drop in the bloc’s monthly registrations, which reflect sales, the European Automobile Manufacturers’ Association said Thursday. EU registrations came to around 643,600 for the month, with every major European carmaker posting declines.
- Eight months into 2024 , new car registrations increased by 1.4%, almost reaching 7.2 million units.
- In August , battery-electric cars accounted for 14.4% of the EU car market, down from 21% the previous year. This represents the fourth consecutive month of decline this year, contrasting sharply with the almost consistent month-on-month increases last year.
Stellantis and Volkswagen posted significant drops in August new-car registrations in the European Union.
Seems there is seasonality in the series, and August is historically a bad month. Last year was not as pronounced probably since demand was catching up.
So, for now I don’t expect this to mean much, but worth to monitor the coming months.
