Car mar­ket con­tin­ues to grow

Wicklow People (West Edition) - - MOTORS -

DESPITE con­tin­u­ing economic un­cer­tainty and di­min­ish­ing con­sumer con­fi­dence, the Euro­pean car mar­ket reg­is­tered growth in July 2019, as reg­is­tra­tions were up by 1.2% to 1,325,600 units.

Al­though the agrowth was mar­ginal, it marks a sig­nif­i­cant im­prove­ment on the drop seen in June, when reg­is­tra­tions fell by 7.9%. How­ever, the re­sult is not sig­nif­i­cant enough to off­set the mar­ket’s over­all per­for­mance so far in 2019, with year-to-date fig­ures show­ing 9,723,400 ve­hi­cles have been reg­is­tered – a 2.5% drop on the same pe­riod last year.

‘There is un­cer­tainty in Europe. Af­ter many years of growth, the mar­ket shows signs of de­cel­er­a­tion that is likely to con­tinue if the Ger­man econ­omy fails to grow again,’ ex­plains Felipe Munoz, JATO’s global an­a­lyst. The growth seen in July was driven by the mid­size and small mar­kets, as 14 of the 27 coun­tries an­a­lysed in JATO’s in­sights saw in­creases. Again, the sit­u­a­tion is not as pos­i­tive in the year-to-date fig­ures, where only 10 mar­kets have so far recorded growth.

Ire­land’s reg­is­tra­tions dur­ing the pe­riod were down 7.3 per cent to 105,397.

Elec­tric is cer­tainly the way for­ward, with reg­is­tra­tions of BEV, PHEV, HEV and other elec­tric ve­hi­cles to­talled 96,600 units in July –as de­mand in­creased by 29% from July 2018. The fuel type also saw a mar­ket share increase from 5.8% to 7.4%.

The increase in EV’s mar­ket share came as a re­sult of the out­stand­ing per­for­mance of pure elec­tric cars (BEVs), where vol­ume was up by a huge 98% to 23,200 units. The growth was driven by Tesla – the top- sell­ing brand – and Re­nault, which saw a 103% vol­ume increase af­ter its Zoe model be­came the top-sell­ing BEV dur­ing the month. Other no­table re­sults in­cluded Volk­swa­gen, where vol­ume was up by 64%, Hyundai, where vol­ume was up by 334%, and Audi, which sold 1,735 units of the E-Tron.

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