European car registrations up by 15.2% in July

August 30, 2023 (MLN): European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European Automobile Manufacturers Association (ACEA) showed on Wednesday, as Reuters reported.

Electric vehicle sales jumped 60.6%, continuing a rise buoyed by subsidies in a number of European Union countries.

Full EVs accounted for 13.6% of all new car sales, up from under 10% in July 2022.

Plug-in hybrids, which have both a combustion engine and a large battery, accounted for 7.9% of sales, while one in four vehicles sold in the EU was a full hybrid.

Between them, petrol and diesel engine models made up just under 50% of sales.

Diesel vehicles, which alone comprised more than 50% of new car sales as recently as 2015, accounted for just over 14% of sales in July.

Europe's top car seller Volkswagen posted a 17.9% increase in sales in July, the ACEA said, while BMW and Renault saw sales rise 22.5% and 16.9% respectively.

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