The latest JATO data on new car registrations in Europe shows that demand increased by 2% in July 2024 compared to July 2023. A total of 1.03 million units were registered in the region, bringing year-to-date volumes to almost 7.
9 million new cars. More SUVs than ever One of the main conclusions to be drawn from last month's results is that consumers are continuing to buy more SUVs. Although this trend began more than ten years ago, it has by no means stopped.
In July 2024, SUVs accounted for almost 54% of total registrations , a new record. Last month, 554,000 new SUVs were registered, an increase of 6% on July 2023. The month's good results brought year-to-date volumes to 4.
2 million units, an increase of 5%. The reasons are still the same: there's more choice than ever and drivers appreciate the higher seating position, which provides more comfortable access. Top 10 manufacturers July 2024 Although Toyota, BMW, Mercedes and the Geely Group led growth in the SUV segment, it was the Volkswagen Group that was the undisputed leader.
The German manufacturer accounted for 26% of SUV volume, followed by Hyundai - Kia with 12% and Stellantis with 11.5%. Most of the demand for SUVs came from compact SUVs, the C-SUVs, with 210,600 units, up 3%.
However, growth was driven by small SUVs, the B-SUVs , with 204,300 units, up 14% . The arrival of more affordable models is enabling many consumers to switch from traditional segments to SUVs. Next in line are the medium SUVs, the D-SUVs, with demand down 7% to 106,500 units, the large SUVs, the E-SUVs, with 27,600 units, up 23%, and the luxury SUVs, the F-SUVs, with 5,022 units, up 32%.
New registrations in Europe July 2024 (more SUVs than ever) Falling demand for electric cars Another important fact to emerge from last month's registration results is the fall in demand for pure electric cars. According to JATO, 139,300 new electric cars were registered in July 2024, down 6% on July 2023. As a result, their market share fell from 14.
6% to 13.5% over the same period. The lack of clarity over incentives and their future, as well as growing concerns over the residual values of these cars, continue to have a negative impact on their demand.
Consumers are still not convinced of the benefits of switching from petrol/diesel to electric. BMW outperformed Tesla , with the former recording a 35% year-on-year increase, while the latter suffered a 16% drop. Top 20 brands in July 2024 Although Tesla's Model Y and Model 3 remain at the top of this year's BEV rankings, they are losing ground to the competition.
In fact, the Model Y is no longer the best-selling vehicle in Europe , occupying ninth place in the overall rankings until July. More recent cars are enabling BMW to succeed in this complex segment. The BMW iX1 , i4 and i5 recorded strong growth over the month.
The new iX2 recorded more than 1,300 units. The electric BMWs, more than the Mercedes and Audi, are the most attractive. Sandero accelerates its growth The Dacia Sandero was the most-registered new car in the region in July.
Its volume rose by 34% to 22,400 units. Top 50 models July 2024 This is more than 3,000 units ahead of the runner-up, the older Volkswagen T-Roc (introduced in 2017). July's top 10 includes five SUVs and five small cars.
More industry analysis from Motor1 Numbers:.
