Paris (France) (AFP) – Sales of new cars jumped last month in the European Union as consumers turned to electric vehicles due to soaring petrol prices caused by the war in the Middle East, data showed Thursday. Overall sales rose 12.5 percent in March from the same month last year, reaching 1.16 million vehicles, according to registration data from the European Automobile Manufacturers’ Association (ACEA). This increase helped the market achieve a four percent rise for the first quarter overall, following declines in January and February.
Sales of fully electric vehicles soared by 49 percent, with plug-in hybrids also seeing a significant increase of 20 percent. In the first quarter, hybrids were the top choice among European consumers, accounting for 37 percent of overall sales. Plug-in hybrids made up another 10 percent of the market share, while the market share of traditional petrol motor vehicles slumped to 23 percent, down from 28 percent a year earlier. Fully electric vehicles accounted for just over 19 percent of overall sales.
The ACEA noted that the sales performance of electric vehicles varied significantly by country, with Italy, France, and Germany posting strong gains. In contrast, sales in Belgium and the Netherlands fell during the same period. The spike in petrol prices occurred throughout Europe after the United States and Israel attacked Iran on February 28, which resulted in a near block on oil exports from the Gulf. This prompted Iran to retaliate by attacking energy facilities throughout the region.
Meanwhile, the Volkswagen group maintained its top position in the EU market in the first quarter, although its market share dipped to 26.4 percent despite higher sales. This decline was primarily attributed to Stellantis, whose Fiat, Citroen, and Opel brands experienced a surge in sales, thereby boosting the group’s market share. Another major European car manufacturer, Renault, saw a decrease in sales due to transportation problems affecting its low-cost Dacia brand. Additionally, sales of Teslas surged nearly 60 percent from the first quarter of last year, a time when Elon Musk’s involvement in the Trump administration had turned off European consumers.
© 2024 AFP
