European Automobile Manufacturers' Association (ACEA) quarterly report

EU Car Sales Plummet 18.3% in August to Lowest in Three Years Amid Weak EV Demand

Sep 19, 2024, 06:18 AM

New car sales in the European Union fell 18.3% in August, reaching their lowest level in three years, according to the European Automobile Manufacturers' Association (ACEA). The decline was led by a significant drop in Germany, where electric vehicle (EV) sales plunged 69% year-on-year, totaling just over 27,000 vehicles. Battery-electric car registrations in the EU dropped 43.9% year-on-year. This slump in EV sales has dragged down the overall European auto market. France and Italy also saw substantial decreases in car registrations, with France reporting a 31.8% month-on-month decline and a 24.3% year-on-year drop, while Italy experienced a 44.6% month-on-month decrease and a 13.3% year-on-year decline. The United Kingdom reported a 42.7% month-on-month drop and a 1.3% year-on-year decrease in car registrations. The weakening demand for new cars, particularly EVs, has pushed sales below pre-COVID-19 levels, with manufacturers like Volkswagen warning that the trend might not change in the foreseeable future.