By Mathias de Rozario
May 27 (Reuters) – Demand for electrified cars kept Europe’s auto market growing in April, offsetting weaker petrol and diesel demand and helping Chinese brands extend their market share, data from the European Automobile Manufacturers’ Association showed on Wednesday.
Registrations in the European Union, Britain and the European Free Trade Association rose 7% to 1,152,315 vehicles in April, taking the total for January through April 4.8% above a year earlier, according to the data.
Electrified vehicles (battery-electric, plug-in hybrid and hybrid models) rose about 21% and made up more than two-thirds of total registrations, while petrol and diesel cars fell about 15% and 17%, respectively.
The figures add to evidence that policy support, subsidies and higher fuel costs are pushing buyers towards lower-emission vehicles, especially in the region’s biggest markets.
TESLA GAINS GROUND, AS DO CHINESE AUTOMAKERS
That shift also continued to reshape competition among carmakers.
Tesla extended its recovery for a third straight month, with April registrations rising 46.5% to 10,654 units after more than a year of declines, but it remained behind China’s BYD, whose registrations jumped 114.5% to 27,008 vehicles.
Chinese carmaker Chery also expanded rapidly, with registrations up about 322%, while established manufacturers posted mixed results: Volkswagen rose 3.5%, Stellantis 6.7%, Bayerische Motoren Werke 2.4% and Mercedes-Benz 7%, while Renault fell 3.6%.
Italy, France and Germany were among the strongest markets for battery-electric vehicles in the first four months of the year, with registrations up about 73%, 48% and 41%, respectively.
(Reporting by Mathias de Rozario; Editing by Matt Scuffham)
Comments