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Hybrid surpasses fuel in slowing EU new vehicle market in Sept, ACEA says

New hybrid cars offered in the European Union in September accounted for 32.8% of total brand-new vehicle sales, surpassing the monthly market share of petrolpowered vehicles for the first time, information from Europe's automobile market body showed.

Overall automobile sales in the block come by 6.1% year-on-year, the European Vehicle Manufacturers Association (ACEA) stated on Tuesday, as major markets Germany, France and Italy continued to stagnate.

WHY IT is essential

The sale of hybrid electric vehicles (HEV) has increased in the EU in current months, as purchasers see them as an economical compromise between all-combustion and all-electric.

Totally electric (BEV) and plug-in hybrid (PHEV) car sales have rather slowed this year, in part due to diverging policies on green rewards among European countries, while regulators have actually imposed hefty tariffs to try to keep out low-cost Chinese EVs.

BY THE NUMBERS

Electrified automobiles - either BEV, PHEV or HEV - offered in the EU accounted for 56.9% of all brand-new passenger car registrations in September, up from 50.3% in the previous year.

September sales of battery electric cars and trucks increased 9.8% year on year, but year-to-date sales volumes have dropped 5.8%.

Hybrid electrical sales were up 12.5% on the year, while those for petrol lorries dropped 17.9% to a market share of 29.8% in September.

Registrations at Volkswagen increased 0.3%, while they fell by 27.1% at Stellantis and by 1.5% at Renault.

QUOTES

Today's numbers highlight that we're still a long method away from the prospering EV market Europe needs, ACEA Director General Sigrid de Vries said in the declaration.

This is not the steady and trustworthy market development that is required for an effective green mobility transformation.

CONTEXT

Volkswagen, Stellantis and Renault are amongst European car manufacturers dealing with weak demand and trying to ward off competitors from China.

Previously this month, EU member states narrowly backed import duties on Chinese-made EVs of approximately 45%, indicated to counter what the Brussels says are unreasonable subsidies from Beijing to Chinese producers. Beijing denies unfair competitors and has threatened counter-measures.

(source: Reuters)