Got money to burn? Car sales in Europe have surged 0 10

In September, new car sales in European Union countries increased by 10 percent year-on-year, reaching 888,600 units. This is reported by the media, citing data from the European Automobile Manufacturers Association (ACEA).

In Germany, sales jumped by 12.8 percent, in Spain by 16.4 percent, in Italy by 4.2 percent, and in France by 1 percent. However, for the first three quarters of the year, growth due to weak results in previous months was only 0.9 percent.

In September, the largest European manufacturers showed results above average. For instance, Volkswagen Group sales increased by 11.1 percent, Stellantis by 10.5 percent, and Renault by 14.4 percent. Over the nine months, Volkswagen and Renault saw increases (4.8 and 6.6 percent respectively), while Stellantis sales decreased by 7.2 percent.

Interest in American electric vehicles from Tesla continues to decline in Europe. Over nine months, sales plummeted by 38.7 percent to 111,300 cars, and in September, they fell by 18.6 percent.

At the same time, overall interest in electric vehicles and hybrids in Europe is steadily growing. In September, sales of battery electric vehicles rose by 20 percent to 167,600, plug-in hybrids by 65.4 percent to 91,150, and hybrid electric vehicles by 16.4 percent.

In absolute terms, the latter category became the leader with 308,000 units, which is more than the sales of gasoline engine cars at 221,600 (down 7.8 percent). The same result has been observed since the beginning of the year — nearly 2.8 million compared to 2.23 million cars.