EU Car Registrations Rise 10.1% in February
Passenger car registrations in the European Union increased 10.1% yoy to 883.6 thousand units in February 2024, following a 12.1% jump in the previous month. Among the four major EU markets, France (+13%) and Italy (+12.8%) grew by double-digits while registering a single digit for Spain (9.9%) and Germany (5.4%). Meanwhile, battery electric car registrations in the EU rose 9% to 106.2 thousand units, accounting for 12% of the market, following a 28.9% surge in January. The four largest markets in the region covered 24.7% of all battery-electric car registrations, with surging seen in Belgium (+66.9%), France (+31.8%), and the Netherlands (+20.9%) while declining for Germany (-15.4%). For the first two months of the year, car registrations climbed by 11.2% to 1.7 million units.