European Auto Market Gains Momentum with Third Consecutive Month of Growth

Europe’s new car market is showing unmistakable signs of revival, rising for the third month in a row this May. Across the European Union, 926,682 new passenger cars were handed over to customers, marking a 1.6 percent increase compared to the same month last year.

While the spring months have provided a moderate lift to the industry, the first five months of the year still trail behind last year’s performance. From January through May, just over 4.5 million new cars were registered, a slight 0.6 percent dip year-on-year.

Sales of electric and hybrid vehicles continue to surge, with gains recorded both in May and over the five-month span. Electric car sales jumped by 25 percent in May (and 26.1 percent year-to-date), while hybrids saw a 16 percent rise (19.8 percent for the year so far). Plug-in hybrids are also regaining traction. In May, hybrids accounted for 35.1 percent of total car sales, petrol vehicles 28.6 percent, and electric cars 15.4 percent.

Europe’s four biggest markets showed mixed results. Spain led with an 18.6 percent surge in new car sales, followed by a modest 1.2 percent rise in Germany. Meanwhile, France and Italy saw declines of 12.3 percent and 0.1 percent, respectively.