European Car Sales Rise 3.6% to 1.15 Million in May as Inflation Pressures Mount
Updated
Updated · Bloomberg · Jun 23
European Car Sales Rise 3.6% to 1.15 Million in May as Inflation Pressures Mount
2 articles · Updated · Bloomberg · Jun 23
Summary
1.15 million new vehicles were registered in Europe in May, up 3.6% from a year earlier and extending the market’s recovery to a fourth straight month.
Battery-electric and hybrid models drove the increase, with demand for cheaper electrified cars offsetting declines in fuel-burning vehicle sales.
France and the UK posted gains among major markets, but the pace of growth slowed as rising inflation began to weigh on consumer demand.
The May data suggest Europe’s auto market is still expanding, though increasingly dependent on affordable electrified models to counter broader cost pressures.