Battery electric vehicle demand doubled in July across Europe.
Despite continuing economic uncertainty and diminishing consumer confidence, the European car market registered growth in July 2019, as registrations were up by 1.2% to 1,325,600 units.
Although the growth was marginal, it marks a significant improvement on the drop seen in June, when registrations fell by 7.9%. However, the result is not significant enough to offset the market’s overall performance so far in 2019, with year-to-date figures showing 9,723,400 vehicles have been registered – a 2.5% drop on the same period last year.
“There is uncertainty in Europe. After many years of growth, the market shows signs of deceleration that is likely to continue if the German economy fails to grow again,” explains Felipe Munoz, JATO’s global analyst.
The growth seen in July was driven by the midsize and small markets, as 14 of the 27 countries analysed in JATO’s insights saw increases. Again, the situation is not as positive in the year-to-date figures, where only 10 markets have so far recorded growth.