Europe's New Car Sales Decline in November

Investing.com — Europe's new car sales witnessed a decline in November, particularly in electric vehicle (EV) sales, according to industry data released on Thursday.

The downturn follows a slight growth in October and is attributed to significant drops in France and Italy, alongside a standstill in Germany.

The European Automobile Manufacturers Association (ACEA) reported that the sluggishness in EV sales was somewhat balanced by an increase in hybrid-electric car registrations, which surpassed petrol for the third consecutive month.

European car manufacturers are grappling with low demand, elevated production costs, and the transition to EVs, while also facing stiff competition from China.

In November, new vehicle registrations in the European Union, Britain, and the European Free Trade Association (EFTA) saw a 2% decrease year-on-year, totaling 1.06 million.

Brand Performance

• Volkswagen (ETR:VOWG_p): 2.8% increase in registrations
• Renault (EPA:RENA): 9.2% rise
• Stellantis (NYSE:STLA): 10.8% drop

Sales of fully electric cars (BEVs) fell by 9.5% in November in the EU, with significant declines in France and Germany. Conversely, hybrid car (HEV) sales rose by 18.5% for the third consecutive month.

Tesla (NASDAQ:TSLA) and SAIC Motor faced new EU tariffs on Chinese-made cars, leading to a decrease in their sales in the bloc by 40.9% and 7.8%, respectively.

In November, electrified vehicles, including BEVs, HEVs, or plug-in hybrids (PHEVs), accounted for 55.8% of passenger car registrations in the bloc, an increase from 51.8% the previous year.

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