GlobalData European Passenger Car Sales Update (June 2024)
2024/07/10
- Summary
- Commentary
Summary
- The Western Europe PV selling rate improved in June to 12.0 mn units/year, having struggled at around the 11mn units/year mark in previous months. PV registrations rose by 1.5% YoY to 1.2 mn units in June, YTD up 3.7%.
- Sales strengthened in Western Europe after a few months of subdued registration figures across the region. This could in part be an additional push for sales at the quarter-end, but, in any event, selling rates in H1 2024 have fallen short of H2 2023. We have become increasingly cautious on the fullyear result as vehicle prices remain high and interest rate cuts will be modest, even though monetary easing (from the ECB, at least) has now begun. However, we continue to assume growth for 2024, having seen market expansion in H1.
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