Cars, Europe loses 2% in registrations but remains positive since the beginning of the year

Europe's automotive industry confirmed its change of course, with registrations in November down by 2%. This is a result that leaves volumes in positive territory since the beginning of the year (+0.6%) but in fact exhausts the recovery phase triggered in 2023. Compared to pre-crisis levels, i.e., compared to 2019 levels, Centro Studi Promotor points out, there remains a gap of 18.3%.

The current severe crisis has certainly not spared the five large markets in the region, which together account for 69.9% of sales. In fact, from January to November, Germany recorded a 22% drop compared to pre-crisis levels, France 23.4%, Italy -18.2%, Spain -20.9% and the United Kingdom -16.2%. In the month, however, 'France led the ranking with a sharp drop of 12.7%,' Acea writes, 'followed by Italy (-10.8%), while the German market stagnated slightly (0.5%). Among the four most significant EU markets, only Spain recorded positive growth (6.4%)'.

Among manufacturers, Volkswagen did better than the market and grew 2.8% for the month, up 2.2% since the start of the year, while Stellantis lost 10.1% in sales volumes in November, and has dropped 7.2% since the start of the year. Renault posted a positive month (+9.23%), while Toyota confirmed its position as the best performing manufacturer, growing by more than 12% for the month and since January. Mercedes and BMW held their ground compared to last year, while Volvo posted double-digit growth. Tesla is set to end the year on a negative note, with registrations in Europe down 40% in the month, and 15% since the start of the year.

The electric car market is also holding steady, with electric cars in the EU, EFTA and the UK registering a market share of 15.1 per cent in the first eleven months of the year, compared to 15.4 per cent in the same period of 2023. Germany's share dropped from 18.3% to 13.4% in 2023, France rose from 16.4% to 17%, Spain remained at 5.3% and Italy recorded a share of 4.1%. During the year, the UK pushed electric models with purchases of around £4 billion.