The European Automobile Manufacturers Association (ACEA) reported a 2.8% increase in new car sales across Europe in March. The growth was primarily driven by significant increases in the UK and Spain, along with a rise in electric vehicle registrations, which offset declines in gasoline and diesel vehicle sales.
Overall, car sales in the EU, UK, and European Free Trade Association (EFTA) reached 1.42 million units, reversing a two-month decline. Volkswagen and Renault saw registration increases of 10.3% and 13.0%, respectively, while Stellantis experienced a 5.9% drop.
Sales of fully electric vehicles in Europe surged by 23.6% compared to the previous year. However, Tesla's sales fell by 28.2%, marking a third consecutive monthly decline, with its market share dropping from 2.9% to 2% year-on-year.
In the largest EU markets, Spain and Italy reported sales increases of 23.2% and 6.3%, respectively, whereas France and Germany saw declines of 14.5% and 3.9%. The UK also experienced a 12.4% rise in car registrations.
