Europe Car Sales Rebound In March
(RTTNews) - Europe's new car registrations logged strong growth in March driven by the surge in demand for battery electric vehicles, the European Automobile Manufacturers' Association, or ACEA, said Thursday.
Car sales increased 12.5 percent from a year ago to 1.158 million units in March, with electric and hybrid vehicles accounting for the majority of growth.
Battery electric sales advanced 48.9 percent compared to the previous year. Plug-in hybrid car sales climbed 28.2 percent and hybrid electric car sales grew 20.1 percent. Meanwhile, sales of petrol and diesel cars decreased 9.4 percent and 12.3 percent, respectively.
"The market was supported by robust consumer activity bolstered by new and revised tax benefits and incentive schemes across major European countries," said ACEA.
Driven largely by March's strong performance, new EU car registrations rose 4 percent in the first quarter.
Hybrid-electric cars lead as the most popular type choice among buyers, with the battery-electric car market share reaching 19.4 percent in the first quarter.
Meanwhile, plug-in hybrids continued to strengthen their position, underlining the importance of a technology-neutral pathway to de-carbonization, the lobby noted. The share of hybrid-electric car registrations climbed to 38.6 percent, remaining the preferred choice among consumers in the EU. Moreover, the combined market share of petrol and diesel cars declined to 30.3 percent from 38.2 percent in the last year, data showed.
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