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 stemming from the war in the Middle East, data showed Thursday. Overall sales rose 12.5 percent in March from the same month last year to 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 jumping 20 percent. Over the first quarter, hybrids were the top choice among European consumers, accounting for 37 percent of overall sales, while plug-in hybrids accounted for another 10 percent of market share. In contrast, the market share of simple petrol motor vehicles slumped to 23 percent in the quarter, 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. Petrol prices spiked throughout Europe after the United States and Israel attacked Iran on February 28, resulting in a near block on oil exports from the Gulf and leading Iran to retaliate by attacking energy facilities throughout the region. Meanwhile, sales in Belgium and the Netherlands fell.
The Volkswagen group maintained its top spot in the EU market in the first quarter, although its market share dipped to 26.4 percent despite its sales edging higher. This was primarily due to Stellantis, whose Fiat, Citroen, and Opel brands saw sales surge and boost the group’s market share. Another major European car manufacturer, Renault, experienced a decline in sales in the first quarter due to transportation problems affecting its low-cost Dacia brand. Notably, sales of Teslas jumped nearly 60 percent from the first quarter of last year when Elon Musk’s involvement in the Trump administration had turned off European consumers.
© 2024 AFP
