Europe Gravitates to Hybrids
It was the only power train to post growth on the continent in June.
Italy's new-vehicle registration growth topped all other European Union markets in June at 15%.
Pexels/Lewis McNeal
Europeans, like Americans, continue to shift more of their electrified vehicle purchases to hybrids, as June registrations on the continent showed increased market share in the segment while purely electric model sales fell slightly.
As European Union new-vehicle sales rose 4% for the month and about 5% in the first half of the year to 5.7 million units, hybrids substantially grew their market share, from 24% to about 30% in June, according to the European Automobile Manufacturers’ Association. In fact, it was the only power train category to grow, posting a 26% gain.
Meanwhile, pure-electric vehicles’ market share was down from 15% to 14% year-over-year. Combined gas- and diesel-powered vehicles’ share was down from about 50% to 47%.
The group said overall new registrations were still down 18% from before the pandemic.
DIG DEEPER: Ford Hybrid Sales Healthy
Originally posted on Auto Dealer Today
More Industry
Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →
Hybrids and SUVs Gaining Ground
The most recent Kelley Blue Book Brand Watch found that only two nonluxury brands increased in shopper consideration, buoyed by their hybrid and SUV offerings.
Read More →