Green cars but the market is in the red. So Stellantis and Volkswagen to be unfortunate – Turin News

In the first quarter of 2024, the European automotive environment shows mixed signs: a general increase in registrations, but with a worrying performance for some of the biggest companies in the sector, such as Stellantis and Volkswagen. Especially about full electric cars (in Italy even -34%). Let’s take a look at the details behind these numbers and what they could mean for the future of the automotive industry.

The market as a whole

According to Acea, the association of European producers, New car registrations in Europe fell by 2.8% in March 2024 compared to the same month last year, where a total of 1,383,410 vehicles were registered. With that, the first quarter of the total 2024 closes well (+4.4%), due to the good start of the year, which they still used the motivational effect of private producers in the past year.

Focus on your star

The group was particularly interested Starwhich recorded a a drop of 8.7 percent in registrations compared to March 2023, with market share falling to 16.5% from 17.6%. This reduction is part of the wider context of market restructuring, according to the EU policy that will ban the production of internal combustion engines by 2035. And the Group, as it is known, has a different situation where, in 2023, it said. have recorded an increase in production of around 9% but currently A historic establishment like Mirafiori is practically at a standstilland production more than half.

Compared to Volkswagen

Meanwhile, the group Volkswagen on the other hand, it saw a decrease in its market share, which fell by 0.8 percent, reaching 24.9%. This is important, considering VW’s historical dominance in the European market. On the other hand, the development of Volvo (which is owned by China’s Geely) with +39.4%, Nissan +22% and an impressive Mitsubishi with +160%.

The growth of hybrid vehicles

Despite the overall decline in registrations, the electric and hybrid vehicle sector is showing signs of growth. Hybrid cars, in particular, have seen their market share increase from 24.4% up to 29% compared to March 2023, showing a growing preference for more sustainable economic options, since their price is cheaper than that of full electric ones.

The situation in Italy

In Italy, according to Anfia data, registration of plug-in vehicles (BEV and PHEV) has dropped by 28.6% in the month (market share: 6.8%) and 21.5% in the overall period (share: 6.2%) due to the expected effect of the new incentives. In detail, electric vehicles have a share of 3.3%. decreased by 34.4% in the month. The plug-in mix also decreased: -22.1%, with a market share of 3.5% for the month. Even in general terms, both BEVs and PHEVs are down, respectively -18.5% (share: 3%) and -24% (share: 3.2%).