In January 2024, the EU new car market rebounded from the slowdown experienced in December 2023, with year-on-year car registrations increasing by 12.1% to 851,690 units. Notably, the bloc’s major markets all saw significant growth, with Germany (+19.1%), Italy (+10.6%), France (+9.2%), and Spain (+7.3%) achieving either high single-digit or double-digit gains.
In January 2024, new battery-electric car sales surged by 28.9% to 92,741 units, representing a total market share of 10.9%.
Volvo announced that the XC40 Recharge and C40 Recharge are now called EX40 and EC40, as part of the latest model year updates. The fully electric crossovers also benefit from a power boost for the twin motor powertrain, and are now available in dark-themed Black Edition trims.
The new names bring the EX40 and EC40 in line with the rest of Volvo‘s fully electric lineup (EX30, EX90, and EM90).
Stellantis has announced plans to increase production of its electric drive modules (EDMs). The modules, which combine an electric motor, reduction gearset and inverter into a single unit, should begin production in late 2026. Stellantis is investing 103 million euros ($107.6 million) to boost electric vehicle drive module production at its plant in Szentgotthard, Hungary. The automaker is already building EDMs at its plant in Tremery-Metz, France, and a site in Kokomo, Indiana and later this year, its Mirafiori factory in Italy will start to produce electrified dual-clutch transmissions for its hybrid and plug-in hybrid vehicles.
Volkswagen Group and Mahindra & Mahindra Ltd. (M&M) have signed the first supply agreement on components of Volkswagen´s MEB for Mahindra’s purpose-built electric platform INGLO, taking a definitive step further on their joint vision for e-mobility collaboration. The deal covers the supply of certain electric components as well as unified cells. The partnership with Mahindra is led by Volkswagen Group Technology and its “Platform Business” unit in close cooperation with Škoda Auto Volkswagen India Pvt. Ltd.
Europe’s automotive market achieved a notable milestone last year, with new vehicle registrations reaching their highest level since the pandemic. Strong demand for battery electric vehicles (BEVs) and the growing influence of new market entrants sparked significant shifts in the continent’s automotive landscape with new passenger vehicle registrations totalling 12,792,151 units in Europe-28* in 2023, up 14% on the previous year.
Japanese companies Toyota and Chiyoda will jointly develop a large-scale electrolysis system. This strategic partnership has a goal of contributing to achieving government targets for the introduction of electrolysis equipment in Japan and overseas as part of the Basic Strategy on Hydrogen formulated by the government.
With the agreement on cooperation, the introduction of an electrolysis system in Hydrogen Park at the Toyota Honsha Plant in Japan is expected in 2025.
Ford has prepared a facelift for the popular Puma crossover. Puma is a successful model for the American manufacturer, with 560,942 units produced so far at the factory in Craiova.
There are minor changes on the outside and significant upgrades for the crossover’s interior.
Ford also confirmed the name of the electric Puma – Gen-E – ahead of its unveiling later this year.
Mini announces the new gasoline versions of the famous small class model. The Mini Cooper with petrol engines will also be available in Romania.
Customers in Romania will be able to buy the new model with thermal engines in two versions, these being Cooper C and Cooper S.
Rolls-Royce Motor Cars is presenting four "Year of the Dragon" bespoke products to mark Chinese New Year, which begins on Feb 10. These custom creations are three Phantom Extended models and one Cullinan.
All four cars feature a bespoke coachline, hand-painted in Phoenix Red, that subtly incorporates a dragon motif.
Each dragon is orientated to face right, which symbolically represents the east – the direction of the rising sun.
Infineon Technologies announced that Infineon and Honda Motor have signed a Memorandum of Understanding (MoU) to build a strategic collaboration. Honda selects Infineon as semiconductor partner to align future product and technology roadmaps.
Infineon will support Honda with technologies to enable competitive and advanced vehicles.
Energy prices increased 1.6% in January, led by natural gas U.S. (+25.9%) and oil (+2.6%).
Metal prices inched down 0.3%, led by nickel (-2.2%) and iron ore (-0.9%).
A fully automated high-bay warehouse has officially opened at Continental’s tire production plant in Otrokovice, Czech Republic.
Covering an area of 10,000m2, the new warehouse is 43m high. It has a storage capacity of more than 930,000 tires.
BMW signed a commercial agreement to use general-purpose humanoid robots in the automaker’s manufacturing facilities built by Figure, a Silicon Valley-based autonomous robotics company. BMW and Figure are taking a two-stage approach to deploying humanoid robots. The automaker is testing how general-purpose robots could improve factory productivity as part of a multi-stage deployment deal.
The overall volume for the full year of 2023 surpassed 1.5 million units, reflecting a substantial 37% increase compared to 2022. The battery-electric car market share reached 14.6% in 2023.
In December 2023, the EU car market experienced a 3.3% decline, recording 867,052 units in sales. This drop can be attributed to the high baseline performance in December 2022. December also marked the first month of contraction after 16 consecutive months of growth.
Tesla is on course to take the crown for the world’s best-selling vehicle in 2023, with the Model Y securing the top spot across the majority of global markets.
The second best-selling vehicle in 2023 is set to be the Toyota RAV4, with 1.07 million units currently sold globally – up from 1.02 million units in 2022, when it led the global market.