Car sales in Europe have taken a significant hit, with a sharp decline in electric vehicle sales being a major contributor. The number of new car registrations fell by 18.3 percent in August compared to the same period last year, according to the European Automobile Manufacturers’ Association (ACEA).
Electric vehicle sales see steep decline
The most notable drop was seen in the electric vehicle market, where sales fell by almost 44 percent. As a result, electric cars now account for just 14.4 percent of the total market, down from 21 percent a year ago. This drop highlights the ongoing challenges facing the electric vehicle industry, even as governments push for a transition to greener technologies.
Germany sees 70 percent drop in electric car registrations
Germany, Europe’s largest car market, experienced the most dramatic decline in electric vehicle sales. Registrations for electric cars plummeted by nearly 70 percent. France, the second-largest market, also saw a significant decline, with electric car sales down by about 33 percent. Overall, both countries reported above-average declines in total car sales, with Germany seeing a 27.8 percent drop and France recording a 24.3 percent decrease.
Mixed results for 2024 car sales
Despite the sharp decline in August, car sales across Europe grew slightly in the first eight months of 2024. The ACEA reported a 1.4 percent increase in overall car sales, totaling 7.2 million vehicles sold during this period. Spain and Italy were among the top performers, with sales increasing by 4.5 percent and 3.8 percent, respectively. In contrast, both Germany and France saw modest declines of around 0.5 percent over the same period.
