On September 24, data unveiled by the European Automobile Manufacturers Association on Thursday revealed that the surge in the European car market during August was predominantly propelled by the burgeoning demand for electrified vehicles. This demand adeptly counterbalanced the notable downturns in sales of gasoline and diesel cars. In August, the total number of car registrations across Europe witnessed a 5.3% increase, reaching a total of 832,637 units. Specifically, registrations for battery electric vehicles, plug-in hybrid vehicles, and hybrid vehicles soared by 52.2%, 13.5%, and 3.4%, respectively. Collectively, these electrified vehicles accounted for over 73% of the total registrations. Conversely, registrations for gasoline and diesel cars plummeted by 23.5% and 23.1%, respectively.
In terms of brand performance, registrations for Renault and Volkswagen experienced declines of 4.4% and 3.6%, respectively. In contrast, Stellantis witnessed a 3.5% uptick in registrations. Collectively, the market share of these three brands dipped from 52% to 49.8%. Meanwhile, Chinese car brands made significant strides in the European market. Sales of BYD, Chery, and Leapmotor nearly doubled or even tripled on a year-on-year basis. Geely and SAIC also enjoyed sales increases exceeding 25% and 32%, respectively. As a result, the combined market share of Chinese car brands surged from 7.1% to 11.3%.