Car market slumps in February
The European new car market fell seven per cent in February, from 1,143,852 units in February 2019 to 1,063,264 last month.
This is according to JATO Dynamics data, which also reported a fall in volume of 7.6 per cent in January.
Felipe Munoz, global analyst at JATO Dynamics, said: “The situation is rapidly deteriorating in Europe due to complex regulation, lack of available homologated cars, and increasing pressure on the economy. All of these factors are having a detrimental impact on consumer confidence.”
Against this negative backdrop, electrified vehicles were once again the outlier in the industry. Their registrations jumped from 75,400 units in February 2019 to 135,500 units last month. The increase of over 80 per cent came at the expense of diesel and petrol cars who saw significantly fewer registrations.
Munoz added: “So far this year, electrified vehicles have been the only lifeline for manufacturers operating in Europe. This is good news, as the industry’s electrification plans have finally seen a positive response from consumers.”
