US EditionElectric vehicles supercharge EU car sales
Battery electric vehicle registrations jumped 42% in March, helping electrified models account for about 70% of all new car sales, ACEA said.
- On Thursday, the European Automobile Manufacturers Association reported that overall car registrations in Europe, Britain, and the European Free Trade Association rose 11.1% in March to 1,581,169 vehicles.
- Registrations of battery electric vehicles jumped around 42% in March as consumers shunned internal combustion engines following fuel price spikes after the United States and Israel attacked Iran in late February, limiting Gulf oil exports.
- Scoring an 84.3% year-on-year sales increase, Tesla overtook Chinese competitor BYD in March; BYD registrations grew 147.6% to 37,580 units, while Tesla reached 52,600 units.
- Petrol and diesel vehicle registrations dropped about 10% and 14% respectively, while sales of legacy car maker BMW climbed 15.4%. Market share of simple petrol vehicles slumped to 23 percent in the quarter.
- Sales of Teslas jumped nearly 60 percent from the first quarter of last year, recovering after Elon Musk's involvement in the Trump administration previously deterred European consumers. Overall first-quarter sales attained a four percent rise.
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More vehicles were sold in the EU and Slovenia in March than in March last year. Among brands, Volkswagen remained in first place, followed by Škoda, Renault, Toyota and BMW.
Daily Journal
Electric vehicles supercharge EU car sales
Sales of new cars jumped last month in the European Union as consumers turned to electric vehicles as petrol prices soared due to the war in the Middle East, data showed Thursday.
European Car Sales Jump 11% As Fuel Shock Drives EV Demand
European Car Sales Jump 11% As Fuel Shock Drives EV Demand European auto sales posted their strongest monthly gain in almost two years in March, as robust demand emerged for fully electric and hybrid models. The surge in demand follows the US-Iran conflict, which disrupted energy flows through the Hormuz chokepoint. As a result, petrol and diesel prices at the pump in Europe soared. Another issue is China flooding the continent with cheap EVs, u…
The month of March saw a sharp increase in the registration of new cars over a year in the European Union, a phenomenon which is explained by the enthusiasm for electricity.
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