Jato Dynamics data across 28 European markets reveals that the SUV market share has possibly reached a peak.
April was largely positive for Europe’s new car market with a total of 1,080,517 vehicles registered during the month, marking a 12.6% increase compared to April 2023.
This growth was primarily driven by demand for B-hatchbacks and compact cars. Year-to-date figures indicate 4,461,734 new units registered so far in 2024, a rise of 6.7% over the same period last year.
Despite their historical popularity, the market share of SUVs dropped from 51.3% in April 2023 to 51.1% in April 2024. SUV registrations increased by only 12% year-on-year, lagging behind the overall market growth.
Within the SUV segment, brands like Audi, Ford, Kia, Renault, and Skoda faced struggles in April, while BMW, Hyundai, Mercedes, Toyota, Volkswagen, and Volvo gained market share.
Login to continue reading
Or register with AM-online to keep up to date with the latest UK automotive retail industry news and insight.