European vehicle registrations in 2024: hybrid growth amid market fluctuations

New vehicle registrations in Europe rose by 0.8% in 2024, totaling 10.6 million units, according to ACEA. However, key markets such as France (-3.2%), Germany (-1%), and Italy (-0.5%) saw declines, with Spain standing out for a 7.1% increase. Hybrid vehicles (HEVs) grew significantly, accounting for 30.9% of registrations, surpassing gasoline vehicles (33.3%). EVs accounted for just 13.6%, falling short of targets. In December, HEV registrations surged by 33.1%, while EV registrations dropped 10.2%, particularly in Germany and France. Thermal vehicles continued to decline (-1.8%), except in Spain (+16%). Plug-in hybrids grew by 4.9%, though their market share remained low at 8.3%.