Benzinga - by Anan Ashraf, Benzinga Editor.
American automaker Ford Motor Co (NYSE:F) was the only auto manufacturer to see new vehicle registrations in Europe slump last month.
What Happened: Only 27,264 Ford vehicles were registered in the European Union in April, marking a year-on-year slump of 9.1%, according to data from the European Automobile Manufacturers’ Association (ACEA). The company also witnessed its market share dip 0.7% from April 2023.
Though South Korean auto brand Kia also witnessed a 12.6% dip in registrations, it was offset by the rise in registrations for its sister brand Hyundai.
Volkswagen was the best-selling car maker in the EU last month with 254,019 registrations, followed by Italian carmaker Stellantis who witnessed 152,236 registrations.
American EV giant Tesla Inc., meanwhile, saw new vehicle registrations jump 3% to 11,254 units.
Why It Matters: Since the start of 2024, Ford has seen its popularity wane in the EU with total registrations as of the end of April standing at 109,346 units or 15.5% lower year-on-year. Tesla too has seen its total registrations this year dip by about 4% to 77,187 units.
In the U.S., however, Ford saw sales rise by 4.2% this year as of the end of April to 687,671 units, thanks to the rise in popularity of its SUVs, including the all-electric Mustang Mach-E.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
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