New car sales numbers paint misleading picture
New research has found that new car sales across Europe’s largest 28 market fell marginally in October and are up just one per cent for the year.
According to JATO Dynamics, sales fell to 1,040,390 units last month, with year-to-date sales recorded at 10,796,414.
Meanwhile, electric vehicle sales were up 6.7% in October compared to the same month in 2023, with petrol sales rising by 0.7% and diesel and plug-ins down 8.1% and 7.2% respectively.
However, stable sales numbers might not be an indication of market health, with heavy discounts boosting numbers.
Felipe Munoz, global analyst at JATO Dynamics, said: “As we head towards the end of the year, carmakers are increasingly rolling out discounts and deals to sell off any unsold stock. This is helping registration figures stabilise and shouldn’t be mistaken as an indication of market recovery.”
Munoz added:
“The strong performance of electric vehicles in Europe is welcome news, in particular for those manufacturers that already have a large electric offering.”
