(Reuters) – Sales of new cars in the European Union (EU) rose 10.1% year-on-year in February, with solid growth seen in the bloc’s main markets, the Manufacturers’ Association said on Thursday European Automobile Companies (ACEA).
Registrations increased by 13% in France, 12.8% in Italy, 9.9% in Spain and 5.4% in Germany, consolidating similar trends observed in January, ACEA said.
These four countries were also the main contributors to the 24.7% annual increase in sales of hybrid electric vehicles (HEVs) in the EU, with the market share of HEVs in the Union increasing to 28.9% from 25.5% the previous year, according to the association.
HEVs, considered a compromise between internal combustion engine cars and electric vehicles, are becoming a preferred alternative for consumers in Europe, the United States and China.
Registrations of electrified vehicles – fully electric, plug-in hybrid and full hybrid models – increased 18.4% year-on-year and accounted for 48.2% of all new passenger car registrations in February, up from 44.8% in February. last year.
Total registrations of Volkswagen, Stellantis and Renault all increased in February, by 9.8%, 12.0% and 5.8% respectively. Electric car maker Tesla recorded a 15.2% increase in sales in the EU in February. Chinese company SAIC Motor has more than doubled its sales in the EU, Britain and the European Free Trade Association (EFTA).
That same month, its MG Motors unit unveiled the MG3 hybrid hatchback model for the European market, aiming to offer a lower emissions model without having to recharge.
According to ACEA, the number of new vehicles registered in the EU, Britain and EFTA countries increased by 10.2% in February to reach 995,059 vehicles.
The 14% annual increase in registrations in Britain was driven by strong demand from fleets and businesses, the Society of Motor Manufacturers and Traders (SMMT) said earlier this month.
(Reporting by Alessandro Parodi and Greta Rosen Fondahn; by Dimitri Rhodes, editing by Kate Entringer)
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