European New Car Sales Edge Up in February as Chinese Automakers BYD and SAIC Lead EV Market

According to data from the European Automobile Manufacturers' Association (ACEA), new car registrations in Europe rose by 1.7% year-on-year in February, reaching 979,321 units, with electrified vehicles accounting for as much as two-thirds of the total. Sales gains in Germany, Spain, Italy, and the UK offset a nearly 15% decline in France. Chinese automakers stood out: BYD’s sales surged 162% year-on-year, while SAIC Motor (including its MG brand) grew by 12%. Together, they sold 40,314 vehicles, capturing a combined market share of 4%—surpassing Tesla’s 1.8%. Although Tesla’s sales increased by 11.8% year-on-year, ending a 13-month streak of declines, it still lagged behind its Chinese rivals. Overall vehicle registrations in the EU rose by 1.4%. Among electrified models, plug-in hybrids, battery electric vehicles, and hybrid electric vehicles grew by 32.1%, 20.6%, and 10.1%, respectively. While the EU and the UK are currently relaxing carbon emission regulations to ease pressure on domestic automakers, environmental groups have raised concerns that some conventional internal combustion engine vehicles are being classified as “mild hybrids” or otherwise inflating electrification figures, casting doubt on the actual effectiveness of emissions reductions.