Europe New Car Registrations Increase In May
(RTTNews) - Europe's new car registrations increased in May as demand for plug-in hybrid cars grew sharply from the last year, the European Automobile Manufacturers' Association, or ACEA, reported Wednesday. New car sales increased 1.6 percent on a yearly basis in May, faster than the 1.3 percent rise in April. This was the second consecutive rise in registrations.
The annual growth was largely driven by the 46.9 percent surge in plug-in hybrid car sales. Registrations of battery electric and hybrid electric cars advanced 25.0 percent and 16.0 percent, respectively.
Meanwhile, petrol car sales decreased 18.6 percent and diesel car sales fell 27.6 percent from a year ago.
Among the largest euro area economies, Spain registered a sharp growth of 18.6 percent. Meanwhile, sales grew only 1.2 percent in Germany.
In France and Italy, sales decreased 12.3 percent and 0.1 percent, respectively. In the year-to-date period, new EU car registrations dropped 0.6 percent from the same period last year.
The agency said the battery-electric car market share for January to May period was 15.4 percent, still far from where it needs to be. Hybrid-electric models continue to grow in popularity, retaining their place as the most popular power type amongst buyers, ACEA said.
Hybrid-electric car registrations continued to surge, capturing 35.1 percent of the market. It remained the preferred choice among EU consumers. Meanwhile, the combined market share of petrol and diesel cars dropped to 38.1 percent in the five months to May from 48.5 percent during the same period in 2024.
NZ Dollar Advances Against Most Majors
Australian Dollar Rises Against Majors
European Shares Seen Lower At Open As Nvidia Earnings Loom
Sensex, Nifty Open Higher On Firm Global Cues; IT Stocks Lead Gains
Australian Market Slashes Early Gains In Mid-market
Asian Markets Track Wall Street Higher
Sensex, Nifty Seen Higher On Dovish Fed Comments
