Europe New Car Registrations Increase: ACEA
(RTTNews) - Europe's new car registrations increased in May despite persistent geopolitical headwinds weighing on outlook, the European Automobile Manufacturers' Association, or ACEA, said Tuesday.
New car registrations grew 3.2 percent on a yearly basis in May but slower than the 5.1 percent rise in April and 12.5 percent surge in March.
Car registrations in Italy advanced 7.6 percent and that in France climbed 3.7 percent. Meanwhile, sales in Germany rose only 0.1 percent and Spain reported a 0.8 percent fall.
In the January to May period, new EU car registrations increased 4.0 percent from the same period last year, indicating a strong start to the year.
The lobby observed that the market benefited from strong consumer demand for a range of electrified technologies across key European markets, sustained by new and revised tax benefits and incentive schemes. Hybrid-electric vehicles remained the most preferred choice among buyers, while battery-electric cars accounted for one in five registrations. At the same time, plug-in hybrid cars captured 9.7 percent of the market share.
The share of battery-electric cars accounted for 20.0 percent of the market compared to 15.3 percent last year. Meanwhile, the combined market share of petrol and diesel cars fell to 30.1 percent from 38.0 percent.
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