June 7, 2023

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Volkswagen Group volume growth helps drive European new market

Volkswagen Group volume growth helps drive European new market

In Oct the European new car or truck sector grew by 14% registering 903,533 new motor vehicles.

This advancement is partly described by the sturdy functionality from Volkswagen Group, in accordance to JATO Dynamics. The German maker registered 230,115 units – a 40% volume maximize driven mainly by Audi, Skoda, and Cupra.

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

Toyota also done very well with revenue up by 47%, increasing on benefits from 2019 and 2020 many thanks to the good results of its most recent launches.

Ford improved registrations by 35% many 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) created up 23% of the complete volume.

In spite of a volume increase of 15%, JATO documented that the current market share for these vehicles remained the identical as October 2021.

BEV registrations totaled 119,600 units, up by 15%, whilst PHEVs registrations strike 88,200 models, up by 13%.

Yr-to-date, BEV demand enhanced by 24% to attain 1,103,055 models.

Volkswagen also led the market place in Oct with a 12.7% market place share – this determine rises to 25% with the inclusion of other the makes underneath the Volkswagen Group umbrella.

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

BMW’s volume enhanced by 111%, with expansion driven by the i4 and iX, earning it the third most well-known EV model with a 7.1% market share.