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European New Car Registrations Grow For 14th Month

New car sales in the EU rose for a fourteenth consecutive month in September on the back of strong demand in Italy and France, monthly data from the European Automobile Manufacturers’ Association, or ACEA, showed Friday.

New car registrations grew 9.2 percent from a year ago to 861,062 units in September. This followed a sharp 21.0 percent rise in August.

Italy and France posted substantial gains in September, up 22.7 percent and 10.7 percent, respectively. Meanwhile, Germany’s car sales grew only 0.1 percent and Spain logged a 2.3 percent gain. Battery electric car sales surpassed diesel, making them the third-most-popular choice of new car buyers. The battery-electric car market share reached 14.8 percent. Hybrid-electric cars retained their position as the second most-preferred option, while petrol car market slid to 34.1 percent.

In the three quarters of 2023, the EU car market expanded 16.9 percent from the same period last year. Registrations totaled eight million units. However, the market remained 20 percent below the pre-pandemic level.

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