Europe’s Auto Sales Soared Last Year
EVs hit a milestone, overtaking diesel as the third most popular vehicle type.
Battery-electric sales alone spiked 37% to a nearly 15% market share in the European Union last year.
IMAGE: Pexels/Mike Bird
Car sales jumped in Europe last year but are forecast to grow this year at a much slower rate.
European Union sales surged nearly 14% for the year to more than 10.5 million, according to the European Automobile Manufacturers Association, or ACEA. The group expects 2.5% sales growth this year to 10.7 million units, 20% of them battery-electric, or more than two million.
European consumers, compared to those in the U.S., have more readily embraced electric vehicles, and battery-electric sales alone spiked 37% to a nearly 15% market share. In the process, EVs passed diesel to be the third best-selling fuel type last year.
Germany, Europe’s biggest EV market, though, is expected to see sales fall this year by 14% in its first drop in eight years, Bloomberg reported.
Originally posted on Auto Dealer Today
More Industry
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 →
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 →
Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
Read More →
New Mexico Stores Change Hands
Three dealerships owned by three brothers are renamed for a new partnership bridging the founders’ family and a new auto retail leader.
Read More →
International Automakers Overpower Domestic Output
As the current U.S. administration pushes for domestic automotive production, a new report sheds light on the prevalence of international automakers here.
Read More →
World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →