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Home News European car sales rise 15% in July, EVs up nearly 61%

European car sales rise 15% in July, EVs up nearly 61%

by Uma Rajagopal
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2023 08 30T060250Z 1 LYNXMPEJ7T06E RTROPTP 4 AUTOS EUROPE SALES

European car sales rise 15% in July, EVs up nearly 61%

LONDON (Reuters) – 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.

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.

But Stellantis, which has struggled with logistics problems and car deliveries in Europe, posted a 6.1% drop in sales in July.

 

(Reporting by Nick Carey; editing by Mark Heinrich)

 

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Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.