EU new car sales jump 13.7% in April

New car sales in the EU rose 13.7% in April on the year for their biggest jump since last October, Europe’s auto industry body said on Wednesday, after registrations fell in March.

The European Automobile Manufacturers Association (ACEA) said an uptick in major markets Spain, Germany, France and Italy drove the increase, while an early Easter added two extra sales days to the month.

Top European carmakers are betting on car sales picking up over the year, despite warning that the market will be tough because of slowing sales growth of electric vehicles (EVs) and rising Chinese competition, while consumers struggle with high interest rates.

Sales of battery electric cars in April rose by 14.8% from the previous year, while those of hybrid-electric cars grew 33.1%, the ACEA data showed.

EVs, whether fully electric models, plug-in hybrids or full hybrids, sold in the EU accounted for 47.8% of all new passenger car registrations in April, up from 44.1% in the previous year.

Car registrations at Europe’s three largest carmakers — Volkswagen, Stellantis and Renault — grew by 15.5%, 1.7% and 11.0%, respectively, in the EU, while registrations for Toyota jumped 47.3%.

The number of new vehicles registered in April in the EU, Britain and the European Free Trade Association (EFTA) rose by 12.0% to 1.08-million vehicles, the data showed.

The sale of hybrid electric cars, seen as a compromise between all-combustion and all-electric, has increased in the EU in recent months.

Reuters