According to a report released by the European Automobile Manufacturers Association (ACEA) on Wednesday, passenger car registrations in the European Union saw a remarkable surge of 28.8% in March, exceeding one million units.
Remarkably, battery-electric cars accounted for 13.9% of new registrations in the EU, representing a 2.5% increase from the same period last year. This highlights the growing trend towards sustainable mobility solutions among European consumers.
On the other hand, plug-in hybrids experienced a decline in market share, dropping from 8.8% in March 2022 to 7.2% in March 2023, according to the ACEA press release.
Despite the growth in electric vehicles, petrol and diesel markets still performed well, with an increase of 18.6% and 11.8%, respectively, from last March. This suggests that traditional combustion engines continue to hold a significant market share, although this trend may change as electric vehicle technology advances.
Overall, the rise in passenger car sales across the EU in March indicates a strong rebound for the automotive industry, with a notable shift towards sustainable modes of transportation.