Europe Gets More Electric
BEV sales there surpass diesel’s share year-to-date for the first time.
Increased momentum toward electrified adoption continued to outpace the phenomenon in the U.S., where EV sales hit a record 8% in the third quarter.
IMAGE: Pexels/Ashley Fontana
Vehicle sales surged in Europe in October for the 15 straight month of gains, as battery-electric models surged, passing diesel’s share year-to-date for the first time.
New registrations rose about 15% to more than 855,000 units, according to the European Automobile Manufacturers’ Association.
Battery-electric registrations jumped 36% to nearly 122,000 units and reached a 14% market share for the year so far, while hybrids rose about 39% for a nearly 29% market share. Diesel’s share fell to 12%, and gas shrank to 33%.
Several countries’ increased BEV adoption led to the substantial gains. Belgium and Denmark both saw triple-digit increases in their battery-electric registrations for the month.
The increased momentum toward electrified adoption continued to outpace the phenomenon in the U.S., where EV sales hit a record 8% in the third quarter, up from 6% year-over-year.
More Dealer Ops
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
IA American Appoints Two Execs
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
Cox Automotive Acquires Inspection Firm
Full ownership of Alliance Inspection Management, or AiM, meant to unlock growth for Manheim inspection capabilities
Read More →
Assurant Expands Partnership With Holman
Extended collaboration delivers training, products and performance development to 30 newly acquired Holman dealerships
Read More →
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →