European new car sales rose 5.8% in Oct 2024, with BEVs at 16.4% share, but still below transition targets.

European new car registrations rose 5.8% in October 2024 year-on-year, the fourth straight monthly increase, with Spain, Germany, and France leading gains. Battery-electric vehicles made up 16.4% of sales year-to-date, below the pace needed for the energy transition, while hybrid-electric vehicles remained the top choice at 34.6%. Petrol and diesel vehicles fell to 36.6% from 46.3% in 2023. Despite progress, sales remain below pre-pandemic levels, and the industry faces ongoing challenges including tariffs, shifting global demand, and supply concerns.