New car sales in Europe recorded their fourth consecutive month of growth in October, after manufacturers began offering electric vehicles at much more affordable prices. Registrations advanced by 4.9%, reaching 1.09 million units, according to data published by the Association of European Automobile Manufacturers (ACEA). The strongest increases were noted in Spain and Germany, while Great Britain and Italy stagnated. Consumers are increasingly attracted to the new competitively priced electric vehicles, such as the Citroën ë-C3 produced by Stellantis. Even so, automakers are still experiencing a slower-than-expected pace of electric vehicle adoption. Volkswagen and Stellantis have temporarily scaled back some factories due to weak demand after a series of profit warnings, and Porsche is adjusting its strategy for the EV segment. The segment of electrified vehicles recorded a significant advance in October: registrations of plug-in hybrids increased by 40%, and those of full electric vehicles rose by almost a third. Among the major European manufacturers, Renault reported an 11% increase, and the Volkswagen and BMW groups also recorded solid developments. Chinese automaker BYD recorded a remarkable performance, with its European sales more than tripling and easily outpacing Tesla, whose registrations fell by 48%. Despite the accelerated launch of new electric models, the European car industry continues to demand more flexibility in environmental regulations. Manufacturers will discuss next month with European Union officials possible adjustments to the plan that provides for the ban on sales of passenger cars with thermal engines from 2035. If Germany supports relaxing the rules regarding the transition to electric vehicles, Spain advocates maintaining the current calendar. Despite these challenges, Bloomberg Intelligence analysts anticipate a rebound for European automakers starting next year, amid new EV subsidy schemes, cost-cutting measures and strategy revisions, which could improve the outlook for 2026-2027.
For other news, analyses, articles and business information in real time, follow NV on WhatsApp Channels