European car sales jump as electric vehicles take the lead

New car sales in Europe rebounded with a bang in 2023, rising by 13.9 percent as electric vehicles overtook diesel for the first time, an industry group has said.

Sales of new electric cars shot up by 37 percent year-on-year and accounted for 14.6 percent of those overall, the European Automobile Manufacturers' Association said on Thursday.

The figures marked a stark turnabout from those of 2022 when new vehicle registrations dropped to their lowest levels since 1993 as component shortages hindered automakers.

In particular, sales in France, Italy and Spain posted double-digit increases, compared with 2022.

Automakers are facing a 2035 deadline set by the European Union to phase out sales of new combustion engine vehicles.

Sales of hybrid cars also soared last year, up by nearly 30 percent.

However, petrol cars still remained a large part of the new vehicle market, at 35.3 percent of Europe-wide sales last year, representing 3.7 million cars.

Volkswagen remained in pole position among car manufacturers, with the group selling 2.8 million new cars in 2023, up by 18 percent on the previous year.