New car sales in Europe have fluctuated in 2024, with September seeing new car registrations decrease by 6.1% year-on-year, marking the second consecutive month of decline.  However, October saw a modest rebound, with a 1.1% increase in registrations, driven by growth in Spain and Germany, while France and Italy continued to face downturns. 

The electric vehicle (EV) segment has also encountered challenges. In August, battery electric vehicle registrations fell by 36% compared to the same month in 2023, the largest drop since January 2017. This decline is attributed to factors such as reduced incentives, high prices, and concerns about residual values.