The European car market saw a 2% increase in demand in July 2024 compared to the same month in 2023, with 1.03 million units registered across 28 markets, bringing the year-to-date total to nearly 7.9 million. Growth was particularly strong in Poland, Portugal, and Slovakia, though key markets like Germany, France, and Belgium experienced declines. SUVs continued their dominance, setting a record by accounting for 54% of all vehicle registrations. The segment saw a 6% year-on-year rise, with 554,000 new SUVs registered, driven by brands like Volkswagen, Hyundai-Kia, and Stellantis. While compact and small SUVs (C-SUVs and B-SUVs) were in high demand, midsize SUVs (D-SUVs) saw a 7% decline. Meanwhile, the electric vehicle (EV) market faced challenges, with a 6% drop in registrations and a decline in market share from 14.6% to 13.5%, partly due to consumer uncertainty about incentives and future values. BMW, however, bucked the trend with a 35% increase in EV registrations, outpacing Tesla, which saw a decline. Notably, the Dacia Sandero emerged as the best-selling car in July, with SUVs and hatchbacks evenly represented among the top ten performers. Despite the overall growth in the market, several models, including the Tesla Model Y and Ford Puma, saw a decrease in demand.
