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Car sales decline in Europe

Car sales declined in Europe in January. Despite the increase in electric vehicle sales, the decline in gasoline and diesel vehicle sales had a negative impact on overall car sales.

Car sales decline in Europe

According to data from the European Automobile Manufacturers' Association (ACEA), new car sales decreased by 2.1% compared to the same period last year. In January, total car sales in the European Union (EU), Britain and the European Free Trade Area (EFTA) fell below 1 million, the lowest level since August. Volkswagen and Renault saw sales rise by 5.3% and 5.4% respectively, while Stellantis suffered a 16% decrease. EU-wide car sales decreased by 2.6%, while battery electric vehicle (BEV) sales and and hybrid electric vehicle (HEV) sales increased by respectively 34%  and 18.4%. Sales of plug-in hybrid (PHEV) cars decreased by 8.5%. The share of electric vehicles (BEV, HEV and PHEV) in total passenger car registrations reached 57.2%, compared to 47.4% last year. On a country-by-country basis, car sales increased by 5.3% in Spain, but decreased by 6.2% in France, 5.8% in Italy, 2.8% in Germany and 2.5% in the UK.

EU Administration's Plans

The EU administration will announce its new plans for the automotive sector on March 5 after talks with carmakers, trade unions and industry representatives.

Due to competitive pressure and US tariffs, carmakers are asking the EU Commission for exemption from penalties that may arise from CO2 emission targets. European companies, especially those struggling to compete with Chinese carmakers, are trying to cut costs and are raising the prices of gasoline models to encourage the adoption of electric vehicles. However, this raises concerns that this could lead consumers to reduce their car purchases.

Groups in the electric transport sector, on the other hand, argue that the relaxation of emission targets will hamper investments in electric vehicle infrastructure and weaken Europe's competitiveness.

The Trump Effect

In addition to competition from China, European carmakers are also preparing for the threat of import tariffs from US President Donald Trump. Trump has raised tariffs on aluminum and steel products and announced a 25% tariff on all automobiles and semiconductors, in addition to imports from Mexico and Canada.

While this creates new uncertainties for European automakers in the global market, players in the sector expect stronger support from the EU administration.

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