2023.12.2007:11:00UTC+00Europe New Car Sales Growth Softens In November

Europe's new car registrations continued to expand in November but the pace of growth moderated, data released by the European Automobile Manufacturers' Association, or ACEA, showed Wednesday.

Car registrations increased 6.7 percent year-on-year in November, slower than the 14.6 percent rise in October.

Despite low base effects, car sales reported solid growth, marking the sixteenth consecutive month of expansion, the ACEA reported.

While some markets registered substantial double-digit-gains, the German car market retracted, logging a 5.7 percent decline in November. Sales in Italy and France climbed 16.2 percent and 14.0 percent, respectively. Spain's car sales were up 7.0 percent.

During January to November, new car registrations increased 15.7 percent from the same period last year. Sales totaled nearly ten million units.

Data showed that the battery-electric car market share increased to 16.3 percent in November from 15.0 percent last year. Registrations of new battery-electric cars surged 16.4 percent.

At the same time, registrations of hybrid-electric cars advanced 28.7 percent driven by double-digit growth in Germany, France and Italy. In contrast, sales of plug-in hybrid electric cars declined 22.1 percent.

Despite a continual fall in market share, EU petrol car market grew 4.2 percent, which stood at 32.7 percent in November. The diesel car market continued its downward trend, contracting 10.3 percent.