Volkswagen Up, Stellantis Down as Automakers Run End-of-Year European Discounts

End-of-year automaker discounts are being credited for sales stabilizing in overall new-car registrations in Europe for the month of October.

According to Jato Dynamics’ data for 28 European markets, the number of new-car registrations decreased just 0.1% to 1,040,390 units compared to October 2023. Year-to-date, new passenger-car registrations rose 1.1% to a total of 10,796,414.

Registrations of battery-electric vehicles increased 6.7% compared to October 2023, driving overall sales figures last month.

Gasoline-car registrations rose 0.7%, while diesel vehicles and plug-in hybrids fell 8.1% and 7.2%, respectively.

In October, gasoline cars were the most popular among European consumers, followed by BEVs.  

In terms of brand performance, the Volkswagen Group took top spot in the month, with more than 287,000 new-car registrations, an increase of 11%. As a result, its market share rose to 27.6%, its highest in three years.

Battery-electrics were largely responsible for VW's success with the Skoda Enyaq securing the top spot as Europe’s best-selling BEV, even outperforming the Tesla Model Y. Registrations of the Volkswagen ID.4 increased 24% and the ID.7 registered more than 5,000 units.

However, the VW brands’ gasoline and diesel internal-combustion-engine vehicles still accounted for more than three-quarters of its registrations in October.

Meanwhile, the second-biggest automaker group seller, Stellantis, continues to struggle in Europe recording a 17% fall in registrations for the month.

While registrations of its electric vehicles increased 5%, sales of its gasoline, diesel and plug-in hybrid cars dropped 13%, 25% and 63%, respectively.

Felipe Munoz, Jato Dynamics global analyst, says: “As we head towards the end of the year, carmakers are increasingly rolling out discounts and deals to sell off any unsold stock. This is helping registration figures stabilize and shouldn’t be mistaken as an indication of market recovery.”

On the disparity between the top two automaker groups, he observes: “Despite the challenges that Volkswagen Group is currently facing, it’s performing well and continues to set the standard across many segments.”

However, he points to Stellantis’ market share continuing its slide and attributes this to many of its brands “needing to refresh their offering.”