European Car Sales Drop 2% in November

Car sales in Europe experienced a significant decline in November, with new registrations falling by 2% year-on-year to 1.06 million units, primarily due to sharp decreases in France and Italy. Electric vehicle (EV) sales dropped by 9.5%, while hybrid vehicles gained traction, with registrations of non-rechargeable hybrids surpassing gasoline cars for the third consecutive month. Volkswagen maintained its position as the leading manufacturer, increasing sales by 2.8%, while Stellantis saw a decline of 10.8%. The overall market for electric vehicles shrank, with their share falling to 15%, though electrified vehicles together accounted for 55.8% of registrations. The industry faces challenges such as high production costs and competition from Chinese automakers amid a broader economic slowdown. As the EU's carbon reduction targets approach, industry leaders are calling for a review of regulations to address these pressing issues.