The European Union’s car market recorded a 0.8 per cent increase in 2024, with approximately 10.6 million new cars sold, according to data released by the European Automobile Manufacturers’ Association (ACEA). This modest growth highlights shifting consumer preferences, with significant gains for hybrid vehicles and declines in diesel and fully electric car sales.
Among the EU’s four largest car markets, Spain stood out with a 7.1 per cent rise in new car sales. However, the other three markets—France, Germany, and Italy—experienced declines of 3.2 per cent, 1 per cent, and 0.5 per cent, respectively. These trends reflect varying consumer demands and economic conditions across the bloc.
The market share of fully electric battery-powered vehicles (BEVs) dropped to 13.6 per cent in 2024, down from 14.6 per cent the previous year. Diesel cars continued their decline, capturing just 11.9 per cent of the market compared to 13.6 per cent in 2023.
Petrol cars maintained their lead as the most popular choice, with a 33.3 per cent market share. However, this was a decrease from 35.3 per cent in the previous year, indicating a gradual shift in preferences.
Hybrid-electric vehicles (HEVs) emerged as the second-most popular segment, increasing their market share to 30.9 per cent, a significant jump from 25.8 per cent in 2023. Meanwhile, plug-in hybrid electric vehicles (PHEVs) saw their market share dip from 7.7 per cent to 7.1 per cent.
Hungary’s car market experienced notable growth, with 121,611 new cars sold in 2024—a 12.9 per cent increase compared to 2023. Diesel car sales rose by 12.5 per cent, reaching 14,674 units, while petrol car sales dropped by 3.9 per cent to 36,280 units.
Sales of BEVs surged by 47.7 per cent, reaching 8,565 units, while PHEV sales grew by 2.8 per cent to 5,695 units. HEVs demonstrated remarkable growth, with sales increasing by 24.5 per cent to 56,034 units, highlighting a growing preference for environmentally friendly and cost-efficient options.
The 2024 data underscores a significant transformation in the EU car market. While traditional petrol and diesel cars continue to dominate, their shrinking market shares indicate a gradual pivot towards hybrid and electric technologies. As consumer preferences evolve, hybrid vehicles appear to strike a balance between efficiency and accessibility, making them a rising force in the automotive industry.
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