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New Car Registrations Increase In Europe

April 05, 2023•1 min read

“Electric vehicle demand drives growth in European new car registrations, rising 12% in February compared to the same month in 2022, with the Tesla Model Y becoming the top-selling car in Europe.".” -

Introduction:

New car registrations in Europe rose by 12% in February 2023 compared to the same month in 2022, with total registrations exceeding 900,000 units, according to data from Jato Dynamics.

Italy, Spain, the UK and Belgium saw strong, double-digit growth rates in February.

The only countries to experience declines in growth were Sweden, Norway, Finland and Cyprus.

Strong demand for battery-electric vehicles drove February's registration figures, with 118,329 pure-electric cars leaving dealers' forecourts, up 33% on February 2022.

The Tesla Model Y was the best-selling car in Europe in February, followed by the Dacia Sandero and the Peugeot 208. However, Chinese brands lost traction in February.

Registrations of European-built cars in Europe fell marginally by 0.2% to 2.7% in February, despite the arrival of more Chinese-built models.

Rising interest rates could make consumer access to loans more difficult, potentially impacting purchasing decisions, according to Felipe Munoz, global analyst at Jato Dynamics. Munoz added that the entrance of Chinese vehicles into Europe was not taking place as quickly as many had expected.

You can read the full article on the car dealer magazine website here.

Pete Withers

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