EU new car sales rose 2.1% in Nov. 2024, led by EV growth, as petrol and diesel sales dropped.

European new car sales rose 2.1% year-on-year in November 2024, marking the fifth consecutive month of growth, driven by a surge in electric vehicle registrations. Battery electric vehicles (BEVs) surged 44.1%, accounting for 21% of EU sales, while plug-in hybrids rose 38.4% and hybrids remained popular at 34.6% market share. Petrol and diesel sales declined sharply, down 21.9% and 23.2% respectively. Total registrations reached 1.1 million across the EU, UK, and EFTA, up 2.4% year-on-year, though volumes remain below pre-pandemic levels. Volkswagen and Renault saw gains, while Stellantis and Tesla declined. BYD’s registrations jumped 221.8%. The European Commission is reconsidering its 2035 combustion engine ban amid industry pressure, but analysts say EVs remain the long-term future.