EU passenger car market widens 11.3% in January

By Tuba Sahin

ANKARA (AA) – Passenger car market in the EU grew 11.3% from a year earlier in January, an industry group said on Tuesday.

Registrations of new passenger cars amounted to 760,041 units last month, the European Automobile Manufacturers' Association (ACEA) data showed.

The hike stemmed from a modest base of comparison in 2022, when the lowest January volume on record of 682,596 units was reached.

In the EU's four largest markets, Spain saw the strongest hike (up 51.4%), followed by Italy (up 19%) and France (up 8.8%).

Germany, on the other hand, saw a 2.6% decline in registrations of new passenger cars last month.

In January, battery electric and hybrid passenger car registrations in the EU continued to grow, accounting for 9.5% and 26.0% of the market, respectively.

However, petrol remained the most popular fuel type for newly registered cars in the EU, with a market share of 37.9%.