(Reuters) -New car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said on Thursday, in a reflection of the global challenges faced by automakers.
European Car Sales Decline in June Amid Automakers' Challenges
Overview of European Car Sales
(Reuters) -New car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said on Thursday, in a reflection of the global challenges faced by automakers.
Impact of Competition and Regulations
Tesla lost market share for a sixth consecutive month despite a rise in overall sales of electric cars, while the four best-selling groups in Europe, Volkswagen, Stellantis, Renault and Hyundai, all sold fewer cars than in June 2024.
Sales Performance by Major Brands
WHY IT'S IMPORTANT
Growth in Electrified Vehicle Registrations
European auto makers have booked multi-billion losses and issued profit warnings as they struggle to handle competition from China, U.S. import tariffs of 25%, and domestic regulations aimed at speeding up the EV transition.
BY THE NUMBERS
Sales in the European Union, Britain and the European Free Trade Association fell 5.1% in June from a year earlier, to 1.24 million cars, ACEA data showed.
Registrations at Volkswagen, Renault, Stellantis and Hyundai dropped 6.1%, 12.3%, 0.6% and 8.7%, respectively.
Tesla's sales were down 22.9%, and its market share contracted to 2.8% from 3.4% a year ago.
The share of brands not accounted for by the ACEA, including BYD and other Chinese carmakers, more than doubled to 4.5%.
In the EU, total car sales fell 7.3% year-on-year, even as registrations of battery electric (BEV), hybrid electric (HEV) and plug-in hybrid (PHEV) cars rose 7.8%, 41.6% and 6.1%, respectively.
The three types of electrified vehicles accounted for 59.8% of EU passenger car registrations in June, up from 50% a year earlier.
Overall sales in Germany, France and Italy fell 13.8%, 6.7% and 17.4%, respectively, while they rose 6.7% in Britain and 15.2% in Spain.
QUOTE
"While drivers clamour for cleaner, cheaper cars, dynamic new brands are stepping up to fill the gap left by some incumbents who have been too slow to give the customers what they want," said Ben Nelmes, founder of EV data analysis firm New AutoMotive.
(Reporting by Alessandro Parodi; Editing by Kirsten Donovan)
