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Sep 28, 2023EU truck market shrinks by 7.5% in first 9 months of 2024 | trans.info
Nov 06, 2024Renault Trucks factory - photo for illustrative purposes only (credits @ Renault Trucks)
The European Union truck market recorded a 7.5% decline in new registrations in the first nine months of 2024, driven by a significant drop in heavy truck sales, according to the latest figures from ACEA. While Spain and Italy showed positive growth, declines in Germany and France underlined the overall challenges facing the market.
Pölös Zsófia
Journalist Trans.info
4.11.2024
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Renault Trucks factory - photo for illustrative purposes only (credits @ Renault Trucks)
The commercial vehicle market in the European Union experienced varied results across segments in the first nine months of 2024, according to the latest data by the European Automobile Manufacturers’ Association (ACEA). While van sales grew significantly, truck registrations declined, and bus sales surged, reflecting shifts in demand and economic trends.
ACEA reports that new van registrations across the EU increased by 8.5%, reaching 1,170,310 units from January to September. All four major EU markets contributed to this growth, with Spain leading the charge at 16.7%, followed by Germany (8.2%), Italy (7.3%), and France (5.8%).
Diesel remained the dominant power source, comprising 84.6% of the market and growing by 10.6%, to 989,975 units, according to ACEA. Petrol van sales also grew by 7.5%, securing a 6.1% market share. However, ACEA reports a significant 12.8% drop in electrically chargeable van sales, reducing their market share from 7.1% to 5.7%. Hybrid-electric vans saw a 4.3% decrease, now representing just 2% of the market.
Contrasting with the robust van sector, the EU truck market faced a 7.5% decline, ACEA notes, with 249,708 units registered in the first three quarters. This downturn was led by a 9.5% fall in heavy truck sales, while medium truck registrations saw a minor increase of 3%. Growth in Spain and Italy (12% and 2.1%, respectively) was not enough to counterbalance declines in Germany (-7%) and France (-4.3%).
ACEA reports diesel trucks still dominate, making up 95.3% of new truck registrations despite a 7.3% year-on-year decline. Electrically chargeable trucks also saw a 6.6% dip in sales, with their market share remaining stable at 2.2%. Growth in countries like Germany (+56.8%) and Denmark (+22.3%) was offset by marked declines in France (-58.4%) and the Netherlands (-52.7%), ACEA notes.