Home Latest News & Insights EU CAR SALES SURGE IN MARCH

EU CAR SALES SURGE IN MARCH

May 2, 2023
car manufacturing

EU car sales surge, according to European Automobile Manufacturers’ Association (ACEA). The EU car market experienced a remarkable growth in March 2023, as passenger car registrations increased by 28.8%.

The largest gains were recorded in Spain (66.1%) and Italy (40.7%).

Although hybrid and battery electric cars saw a notable increase in the market share, petrol cars continue to hold the largest market share at 37.5%.

Hybrid cars accounted for 24.3% of new car sales in March, while battery electric cars had a 13.9% market share.

In the polymer industry, market participants reported an uptick in orders in April, reflecting the rise in demand. However, despite some positive developments, many maintain that the level of activity has not fully returned to pre-pandemic levels.