Electric vehicle sales and Chinese brands drive Western European auto market growth

Western European automobile markets experienced significant growth in September, marking the best sales performance since 2017. In Western Europe, 1.2 million new passenger cars were sold, an 8.6 percent increase compared to the previous year. This growth is driven by the mainstream adoption of battery electric vehicles (BEVs) and the rapid expansion of Chinese brands, particularly within the leasing sector. Chinese brands reached a record 10.9 percent market share in June.

In Finland, new passenger car registrations rose by 16 percent in September compared to the previous year. Notably, BEVs accounted for 62 percent of all new registrations in Finland during September, with the year-to-date share standing at 50.4 percent. This trend is heavily influenced by company cars, which represent a significant portion of the market.

Across twelve major European markets—representing over 80 percent of the region's market—BEV sales saw a massive surge. The market share for fully electric vehicles reached 33 percent in September, up from 22 percent the previous year. High fuel prices and the availability of more affordable electric models, such as the Renault 5 and Kia EV2, have accelerated this transition. Specific country data shows BEV market shares of 41.7 percent in France, 34.5 percent in Germany, 28 percent in the United Kingdom, and 18.5 percent in Spain.