European automotive gross sales fall in November, led by France and Italy, ACEA says

By Andrey Sychev and Alessandro Parodi

(Reuters) – New automotive gross sales progress in Europe turned unfavorable once more in November, after exhibiting a meagre progress in October, weighed by sharp declines in France and Italy, and a stagnation in Germany, business information confirmed on Thursday.

The slowdown in electrical car (EV) gross sales was solely partly offset by the expansion of hybrid-electric automotive registrations, which topped petrol for a 3rd consecutive month, in line with the European Car Producers Affiliation ( ACEA (BIT:ACE)).

WHY IT’S IMPORTANT

European automakers are fighting weak demand, excessive manufacturing prices, and managing the shift to EVs, whereas making an attempt to fend off competitors from China.

BY THE NUMBERS

The variety of new autos registered in November within the EU, Britain and the European Free Commerce Affiliation (EFTA) fell 2% year-on-year to 1.06 million.

Amongst manufacturers, registrations within the EU, Britain and EFTA at Volkswagen (ETR:VOWG_p) rose 2.8% and by 9.2% at Renault (EPA:RENA), whereas they fell by 10.8% at Stellantis (NYSE:STLA).

Gross sales of absolutely electrical vehicles (BEVs) have been down by 9.5% in November within the EU, pushed by sharp declines in France and Germany, whereas these of hybrid vehicles (HEVs) rose by 18.5%, exhibiting progress for a 3rd month in a row.

Tesla (NASDAQ:TSLA) and SAIC Motor, who turned topic to the brand new EU tariffs on Chinese language-made vehicles from November, noticed gross sales within the bloc decline by 40.9% and seven.8%, respectively.

Electrified autos – both BEV, HEV or plug-in hybrids (PHEV) – offered within the bloc accounted for 55.8% of passenger automotive registrations in November, up from 51.8% within the earlier yr.

QUOTES

Because the EU’s new carbon dioxide emission discount targets loom subsequent yr, ACEA stated a overview of the regulation is required and it’s holding discussions with EU lawmakers about that.

“The transition was labored out on paper. On paper, it might be image excellent, however actuality is totally different”, ACEA Director Common Sigrid de Vries informed Reuters on Tuesday.

“In Europe, we now have a few points. We’ve very pricey power and electrical energy costs. We do not have the uncooked supplies and the provision chain that we’d like for electrification but in Europe itself”, she added.

CONTEXT

On Dec. 11, ACEA appointed Mercedes Chairman Ola Källenius as its new president as of on Jan. 1, and accepted the return of Stellantis to the organisation from subsequent yr.

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