In the first two months of 2024, U.S. sales of hybrid vehicles saw a significant increase of 50%, outpacing the growth in electric vehicle (EV) sales, which stood at 13%. Hybrids flew off dealer lots in 25 days on average, three times faster than EVs and twice as fast as gas-powered cars. In Europe, new car registrations rose by 10.1% year-on-year in February, with all main markets showing solid growth, despite the market share of electric vehicles remaining on hold. Notably, Germany, France, and Italy reported increases in both month-on-month and year-on-year car registrations, with France showing a particularly strong month-on-month recovery. BMW anticipates a steady automotive margin for 2024, as research and development and capital expenditures peak.
🇮🇹 Italy Italian Car Registration (YoY) (Feb) $EUR Actual: 12.8% Previous: 10.6%
🇩🇪 Germany German Car Registration (YoY) (Feb) $EUR Actual: 5.4% Previous: 19.1%
🇩🇪 Germany German Car Registration (MoM) (Feb) $EUR Actual: 1.8% Previous: -11.7%
🇮🇹 Italy Italian Car Registration (MoM) (Feb) $EUR Actual: 3.6% Previous: 27.7%
🇫🇷 France French Car Registration (MoM) (Feb) $EUR Actual: 16.6% Previous: -32.4%
Passenger-car sales in Europe gained 10% in February as automakers including Volkswagen and Stellantis fed off order backlogs, while the market share of electric vehicles stayed flat https://t.co/nPP3p6E1Cq
🇫🇷 France French Car Registration (YoY) (Feb) $EUR Actual: 13.0% Previous: 9.2%
Europe Car Sales Jump 10% in February With EV Share on Hold https://t.co/QFBsdbK4Fc
Europe Car Sales Jump 10% in February With EV Share on Hold https://t.co/rpOmjyJjBx
BMW Expects Relatively Stable Car Unit Profitability, Lower Group Margin https://t.co/KQF1B5GdiQ
BMW sees steady 2024 automotive margin as R&D, capex peak https://t.co/DSnpgxoZDw https://t.co/PvyjAx6VHW
⚠️ EU NEW CAR SALES RISE 10.1% Y/Y IN FEBRUARY, ACEA SAYS Full Story → https://t.co/wat156M77T New car sales in the European Union rose 10.1% year-on-year in February, with the bloc's main markets all recording solid growth, Europe's automakers association said on Thursday. https://t.co/7hPWRVZVkA
🇪🇺 New Car Registrations YoY (Feb) Actual: 10.1% Previous: 12.1% https://t.co/WeRvDJg1uY
Heads Up:🇪🇺 New Car Registrations YoY (Feb) due at 07:00 GMT (15min) Previous: 12.1% https://t.co/WeRvDJg1uY
"U.S. sales of hybrids jumped 50% in the first two months of the year. That surge outpaced EV sales, which grew 13%. ... Hybrids flew off dealer lots in 25 days on average, nearly three times faster than EVs and twice as fast as gas-powered cars." - @WSJ https://t.co/GpFqNeVQCe