According to data released on February 25th, passenger car registrations in the European Union (EU) fell by 2.1% in January compared to the same period last year. This decline was primarily attributed to a reduced demand for plug-in hybrid, gasoline, and diesel vehicles. Conversely, electric vehicle sales soared by 37%, a surge that benefited from automakers' intensified promotion of battery-powered vehicles in response to increasingly stringent emission regulations.

In terms of individual automakers' performance, Volkswagen and Renault reported year-on-year growth in registrations during January. On the other hand, Stellantis, BMW, and Mercedes-Benz experienced declines in their registrations.