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European car sales rise 15% in July, EVs up nearly 61%
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LONDON (Reuters) – European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European Automobile Manufacturers Association (ACEA) showed on Wednesday.
LONDON (Reuters) – European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European Automobile Manufacturers Association (ACEA) showed on Wednesday.
Electric vehicle sales jumped 60.6%, continuing a rise buoyed by subsidies in a number of European Union countries. Full EVs accounted for 13.6% of all new car sales, up from under 10% in July 2022.
Plug-in hybrids, which have both a combustion engine and a large battery, accounted for 7.9% of sales, while one in four vehicles sold in the EU was a full hybrid.
Between them, petrol and diesel engine models made up just under 50% of sales. Diesel vehicles, which alone comprised more than 50% of new car sales as recently as 2015, accounted for just over 14% of sales in July.
Europe’s top car seller Volkswagen posted a 17.9% increase in sales in July, the ACEA said, while BMW and Renault saw sales rise 22.5% and 16.9% respectively.
But Stellantis, which has struggled with logistics problems and car deliveries in Europe, posted a 6.1% drop in sales in July.
(Reporting by Nick Carey; editing by Mark Heinrich)
An electric vehicle (EV) is a type of vehicle that is powered by electricity instead of traditional fuels like petrol or diesel. EVs are known for being more environmentally friendly and often have lower operating costs.
Plug-in hybrids are vehicles that combine a conventional internal combustion engine with an electric motor and a rechargeable battery. They can run on electric power alone or use both electric and gasoline power.
Market share refers to the percentage of an industry's sales that a particular company controls. It is a measure of a company's competitiveness and its ability to capture a portion of the market.
A combustion engine is a type of engine that generates power through the combustion of fuel, typically gasoline or diesel. It converts chemical energy into mechanical energy to drive the vehicle.
A full hybrid vehicle is a type of hybrid that can operate using either its internal combustion engine or its electric motor, or both simultaneously, providing flexibility and improved fuel efficiency.
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