New car sales in the EU have surged, with electric and hybrid vehicles taking the lead.

The Foreign exchange reservesEuropean automobile industry body stated on Wednesday that after a decline in March registrations, new car sales in the EU in April increased by 13.7% year-on-year, marking the largest increase since last October.

According to the European Automobile Manufacturers Association (ACEA), the growth in major markets such as Spain, Germany, France, and Italy drove the increase in sales, while an early Easter added two extra sales days to the month.

Despite challenges like slowing electric vehicle sales growth, intensified competition in the Chinese market, and high interest rates, Europe's leading car manufacturers still expect a recovery in car sales this year.

Data show that sales of all-electric vehicles in April increased by 14.8% year-on-year, and sales of hybrid vehicles increased by 33.1%.

In April, electric cars sold in the EU, including all-electric, plug-in hybrid, and full hybrid models, accounted for 47.8% of all new passenger car registrations, up from 44.1% last year.

Among Europe's top three car manufacturers, Volkswagen, Stellantis, and Renault saw their car registrations in the EU increase by 15.5%, 1.7%, and 11.0%, respectively, while Toyota's registrations increased by 10%, with a surge of 47.3% in sales.

Data show that the number of new cars registered in the EU, UK, and European Free Trade Association (EFTA) in April increased by 12.0% to 1.08 million vehicles.

Despite high interest rates, rising costs, and weak new car demand, European automotive giants Volkswagen, Mercedes-Benz, and Stellantis all reported declines in sales and first-quarter revenues last month. However, these companies are increasing their investment in new cars, including models of low-cost electric vehicles.

As a compromise between fuel cars and electric vehicles, hybrid car sales in the EU have increased in recent months.

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