Automotive Industry:Europe: Difference between revisions

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 === February 2023 ===
-The European Automobile Manufacturers' Association data indicate that EU new car registrations rose 11.5% to 802,763 units in February.
-With a market share of 36.9%, new petrol cars grew 11.1% year-over-year in February.
+* The European Automobile Manufacturers' Association data indicate that EU new car registrations rose 11.5% to 802,763 units in February.
-With a market share of 12.1%, new Battery electric vehicles registrations grew 39.7% year-over-year in the month.
+* With a market share of 36.9%, new petrol cars grew 11.1% year-over-year in February.
-Meanwhile, new hybrid cars registrations grew 22.3% year-over-year in the month. Hybrid cars has 25.5% market share.
+* With a market share of 12.1%, new Battery electric vehicles registrations grew 39.7% year-over-year in the month.
-Overall, new car registrations in Europe grew 11.4% year-over-year to 1.6M new cars in the first two months of 2023<ref>https://www.acea.auto/pc-registrations/passenger-car-registrations-11-5-in-february-battery-electric-12-1-market-share/</ref>.
+* Meanwhile, new hybrid cars registrations grew 22.3% year-over-year in the month. Hybrid cars has 25.5% market share.
+* Overall, new car registrations in Europe grew 11.4% year-over-year to 1.6M new cars in the first two months of 2023<ref>https://www.acea.auto/pc-registrations/passenger-car-registrations-11-5-in-february-battery-electric-12-1-market-share/</ref>.
+=== March 2023<ref>https://www.acea.auto/pc-registrations/new-car-registrations-28-8-in-march-battery-electric-13-9-market-share/</ref> ===
+* Passenger car registrations in the European Union surged 28.8% y/y to an over-three-year high of 1,087,939 units in March 2023, marking the eighth consecutive month of rise. However, the increase was largely due to the low base of comparison in 2022 during the semiconductor shortage crisis<ref>https://tradingeconomics.com/european-union/car-registrations</ref>
+* In the first quarter of 2023, the EU car market saw a substantial increase in new car registrations, with almost 2.7 million units sold. This marks a 17.9% increase compared to 2022
+* March saw significant increases in the market share of hybrid cars to 24.3% and battery electric cars to 13.9%. Despite the shift to more sustainable models, petrol cars still retain the largest market share at 37.5%.
+* EU witnessed a significant increase in new registrations of battery electric vehicles (BEVs), which surged by a massive 58% to reach 151,573 units. As a result, the cumulative number of units registered in the first quarter of 2023 rose by 43.2% to 320,987.
+* Hybrid electric vehicles (HEVs) had another strong month in March, with sales increasing by 38.1% to 264,694 units.
+* In March 2023, new registrations of petrol cars in the EU grew significantly (+29.9%). As a result, nearly 1 million petrol cars were sold in the first quarter of 2023, representing a 18.6% year-on-year increase.
 == References ==