European auto sales rise 10% in Sept; EVs, hybrids lead

European automobile registrations surged 10.2% year-on-year in September, reaching a total of 1.36 million units, according to data from the European Automobile Manufacturers’ Association. Electric vehicle and hybrid sales dominated the market share, contributing to the significant increase. Battery electric vehicle (BEV) sales surged nearly 60%, while plug-in hybrid (PHEV) and hybrid electric (HEV) sales grew by 24% and 5.3%, respectively.

Petrol vehicle sales saw a drop of 20.6%, and diesel sales fell by 28%. As of end-September, HEVs held the largest share of the EU market at 36.3%, followed by BEVs at 22.7%. Petrol held a 21.2% share. HEV sales were largely driven by a surge in offerings from Chinese manufacturers such as BYD, SAIC, Leapmotor, and Chery Auto, with Chery entering the EU market only earlier that year.

BYD was the top seller among Chinese producers, with registrations soaring 98.4% year-on-year to 49,953 units. Tesla also experienced a notable rebound in its EU registrations after months of underperformance, with registrations increasing by 72.5% to 68,776 units. Stellantis stood out among domestic manufacturers, recording a 4.5% increase in registrations, while most other local producers and Hyundai, from South Korea, recorded a decline. Toyota Group, the world's biggest automaker by volume, saw a 1.7% increase in registrations.