Hyperdrive
Europe Car Sales Jump 11% in January on Pent-Up Demand
- Recovery in EV sales masks lowest market share in a year
- Carmakers under pressure on EV pricing as growth slows
Passenger-car deliveries in Europe gained 11% in January as automakers like Volkswagen AG and Stellantis NV fed off order backlogs and demand for electric cars recovered.
New-vehicle registrations rose to 1.02 million units last month, the European Automobile Manufacturers’ Association said Tuesday. Fully electric vehicles made up 11.9% of total deliveries, up from 10.3% a year ago as automakers seek to reboot purchasing amid a bruising price war.