Car market, the swing continues in Europe: minus 2.8% in March

The car market in Europe is like a roller coaster. In March a new setback, after a recovery in January and February compared to the first red in December, at the end of 2023 for the countries that fall within the perimeter of Western Europe (EU+EFTA+UK). In short, a swing. Registrations in the month – according to data from Acea, the European manufacturers’ association – were 1,383,410. Down 2.8% compared to March 2023. In the first three months of the year, a total of 3,395,049 cars were sold: 4.9% more than the same period last year.

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The share of electric cars fell from 13.9% to 13% in March, while that of hybrids rose from 24.4% to 29%.In fact, registrations of electric cars in March in the area were 196,411 compared to 220,778 in March 2023, with a drop of 11% also due to particularly significant contractions in Germany (-28.9%) and Italy (-34, 4%). Petrol and diesel conquered less than half of the market (47.8%, compared to 51.8% in March 2023).

The case

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Stellantis registered 228,740 cars in March, 8.7% less than the same period in 2023. Market share declined from 17.6% to 16.5%. In the first three months of the year the group’s registrations were 598,167, 4.2% more than the same period last year with the market share practically unchanged at 17.6% (it was 17.7%).

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“The causes of the slowdown in March, which among other things affected four of the five major European markets, namely the German one (-6.2%), the Spanish one (-4.7%), the Italian one (-3.7 %) and the French one (-1.5%), are indicated by the main European commentators in the weakness of private demand, which appears to be heavily penalized by the price increases of recent years, but also in the slowdown in registrations of electric cars”, says Gian Primo Quagliano, president of the Centro Studi Promotor, which also highlights the delay compared to the new incentives announced by the Meloni government.

The case

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“Having finally published the implementing decree relating to the new incentive plan for the purchase of green cars, we hope that the measure can become operational as soon as possible so as to gradually direct consumers towards low-emission local vehicles”, says the president of Anfia, the association representing related companies, Roberto Vavassori. “On the ecological transition front at EU level – he adds – it remains important to raise awareness among politicians running for the European elections in June on the need for an approach based on technological neutrality, which includes all decarbonised energy vectors, such as renewable electricity, e- fuels and biofuels”.