European Car Market Shrank In March As Share Of EVs Falls

Registrations of new cars in Europe fell in March for the first time this year with the share of electric cars falling below last year’s levels, according to official data released Thursday.Some 1.03 million new passenger cars were registered last month in the European Union, down 5.2 per cent from a year earlier, the European Automobile Manufacturers Association said in its monthly report.The strongest growth was in France and Italy which saw registrations rise 5.

Even though Europe plans to ban the sale of new internal combustion engine cars by 2035, sales of electric cars have stalled in the past few months.In March, only 13 per cent of new registrations were electric, up slightly from 12 per cent in February, but down from 14.6 per cent for all of last year.

In Germany alone, registrations of electric cars fell 28.9 per cent. On the other hand, hybrid cars accounted for 29 per cent of the market in March, up from 24.4 per cent in March a year ago. The Volkswagen group, which also includes Audi and Skoda, remained the largest seller of cars in Europe though its share of the market shrank 0.8 points to 24.9 percent.Among gainers, hybrid-specialist Toyota saw its share jump 1.1 points to 8.1 per cent.

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