In October 2024, battery-electric car registrations increased by 2.4% to 124,907 units, despite a year-to-date decline largely driven by a significant 26.6% drop in Germany.

The automotive markets in France and Italy faced notable declines, with sales dropping by 11.1% and 9.1% respectively during the same month.

Overall, diesel vehicle sales fell by 6.8%, while gasoline vehicle sales rose by 3.7%, resulting in gasoline cars comprising 30.8% of the market, down from 33.4% last year, and diesel vehicles declining to 10.9%.

Electrified vehicles, including fully electric, hybrid, and plug-in hybrids, accounted for 55.4% of passenger car registrations in the EU, up from 51.3% the previous year.

Volkswagen Group maintained its status as the leading car manufacturer in the EU, with a slight market share increase to 26.7% in October, followed by Stellantis at 17% and Renault at nearly 11%.

Tesla faced a significant sales decline of 23.1%, while SAIC Motor from China reported a 10% drop, indicating challenges for these manufacturers in the current market.

As the year draws to a close, car manufacturers are offering discounts to clear unsold stock, which may stabilize registration figures but does not necessarily signal a market recovery, according to industry analysts.

Sales of hybrid vehicles surged by 17.5% in October, capturing a market share of 33.3%, which is a significant increase compared to the previous year.

Fully electric car sales also rose by 6.9% in October, contributing to the overall growth in the electric and hybrid vehicle market.

The decline in electric vehicle sales has been linked to reduced purchase incentives in some countries and the impending stricter CO2 emission regulations, which are expected to lead to the introduction of more affordable models.

Some manufacturers, including Renault and Volkswagen, are pushing for a delay in the tightening of CO2 emission regulations set for 2025, while Stellantis is against such postponements.

At the end of October 2024, the European Union approved increased tariffs of up to 45.3% on Chinese-built electric vehicles, further complicating the automotive landscape.