The European car market is experiencing a period of stagnation. According to data provided by the European Car Manufacturers Association (ACEA), 1,041,672 cars were registered in Western Europe in October, marking a modest increase of 0.1% compared to the same month of the previous year. From January to October, total registrations reached 10,821,299, with an overall increase of 0.9%.
Stellantis recorded a significant decline in October, with 150,346 cars registered, corresponding to a decrease of 16.7% compared to the same period in 2023. The group’s market share fell from 17.4% to 14.4%. Since the beginning of the year, Stellantis has sold 1,700,846 cars, marking a decrease of 7.1% and a reduction in market share from 17.1% to 15.7%.
The Western European car market continues to be well below pre-crisis levels. 2024 looks uncertain, influenced by attempts to recover the share of electric cars, which have slowed down due to the end of incentives in Germany and other related issues. However, there has been growing interest in plug-in hybrids (PHEVs), which increased by 18.2% in Germany in October 2023.
André Schmidt, president of the German association VDIK, emphasizes that the increase in registrations of plug-in hybrids could significantly contribute to the reduction of CO2 emissions compared to traditional combustion vehicles. Gian Primo Quagliano, president of Centro Studi Promotor, adds that the plug-in hybrid represents a beneficial solution for consumers concerned about the limited availability of charging points for electric cars. Although it cannot completely replace a pure electric vehicle, the plug-in hybrid could facilitate the energy transition towards a more sustainable future. With the changes in the European automotive landscape and the emergence of new sustainable technologies, the future of the sector remains to be defined: it will be crucial to monitor how car manufacturers will respond to the current challenges and what strategies they will adopt to attract consumers towards greener solutions.
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