Analysis of EU New-Car Market Performance in June 2024

The EU new-car market saw a boost in June, with new-car registrations increasing by 4.3% compared to the previous year. However, this growth was primarily driven by hybrid vehicles, with full hybrids (HEVs) and mild hybrids (MHEVs) leading the way. Other powertrains experienced declines during this period.

In the first half of 2024, the EU market saw a 4.5% increase in registrations, with over 5.6 million units delivered. Hybrid vehicles have been the standout performers, with a 22.3% improvement in deliveries and a market share of 29.2%. This consistent growth in hybrids has outperformed other powertrains, including electric vehicles (EVs).

Speaking of EVs, the market has seen stabilization rather than a slowdown. Battery-electric vehicle (BEV) registrations fell by 1% in June, with Italy showing strong growth thanks to new incentives. Overall, BEVs have taken a 12.5% share of the market in the first half of the year, with some markets experiencing growth while others saw declines.

Plug-in hybrids (PHEVs) had a tough month in June, with registrations down by 19.9%. This poor performance contributed to an overall decline in EV deliveries. PHEVs accounted for just 6.9% of the market in the first half of 2024, with a 2.5% decrease in registrations.

On the other hand, petrol and diesel vehicles remained stable in June, with small losses compared to the previous year. The overall internal combustion engine (ICE) market declined by 0.8% in the month, with petrol and diesel holding market shares of 34.4% and 12.7% respectively.

Overall, the EU new-car market is showing a shift towards electrified vehicles, with hybrids leading the way in terms of growth and market share. As the automotive industry continues to evolve, it will be interesting to see how different powertrains fare in the coming months.