EU Car Sales Up, Electric Gains. September 2023 witnessed a 9.2% uptick in EU new car registrations, totaling 861,062 units, according to the European Automobile Manufacturers Association.
Italy and France were standout performers with growth rates of 22.7% and 10.7% respectively.
In the year’s first three quarters, the EU car market expanded by 16.9%, reaching eight million units. However, this number is still 20% short of 2019’s pre-pandemic 10 million registrations, as stated by the Association.
The electric push is evident. September saw battery-electric vehicles capture 14.8% of the market share, up from last year’s 14.1%. Interestingly, this is the third instance in 2023 where they surpassed diesel vehicles in popularity, as reported by the European Automobile Manufacturers Association.