Despite positive overall results for brand new automotive registrations in the primary half of 2024, there are worrying signs of slowing growth, in response to JATO Dynamics first-half evaluation of recent passenger automotive registrations in 28 European countries
Registrations increased by just 4.4% from January to June, rising from 6,559,213 units in H1 2023 to six,847,842 units in H1 2024.
Felipe Munoz, global analyst at JATO Dynamics, said: “Europe’s growth is becoming more moderate and stays removed from pre-pandemic levels. That is attributable to a more complex operating environment, including stricter emissions regulations, rising vehicle prices, and challenges in electric vehicle (EV) adoption.
“For the reason that semiconductor shortage, EVs have been the primary growth driver. It’s crucial for the industry to handle uncertainties within the EV market, equivalent to the impact of EU tariffs on imported electric cars from China on vehicle affordability.”
Growth in Chinese EVs
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