February 21, 2024

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Volkswagen Group volume growth helps drive European new market

Volkswagen Group volume growth helps drive European new market

In October the European new car market grew by 14% registering 903,533 new vehicles.

This growth is partly explained by the strong performance from Volkswagen Group, according to JATO Dynamics. The German manufacturer registered 230,115 units – a 40% volume increase driven mainly by Audi, Skoda, and Cupra.

This is, however, considerably lower than the 281,700 units registered in October 2020, and the 302,000 (approximate) units registered in October 2019.

Toyota also performed well with sales up by 47%, improving on results from 2019 and 2020 thanks to the success of its latest launches.

Ford increased registrations by 35% thanks to the Puma and Fiesta but was unable to match volumes from 2019 and 2020, at 77,600 and 60,600 units respectively.

EVs (BEV and PHEV) made up 23% of the total volume.

Despite a volume increase of 15%, JATO reported that the market share for these vehicles remained the same as October 2021.

BEV registrations totaled 119,600 units, up by 15%, while PHEVs registrations hit 88,200 units, up by 13%.

Year-to-date, BEV demand increased by 24% to reach 1,103,055 units.

Volkswagen also led the market in October with a 12.7% market share – this figure rises to 25% with the inclusion of other the brands under the Volkswagen Group umbrella.

Renault followed thanks to the success of the Megane E-Tech, while demand for the Zoe declined.

BMW’s volume increased by 111%, with growth driven by the i4 and iX, making it the third most popular EV brand with a 7.1% market share.