Vehicle registrations increase again in November

Driven by highly dynamic electric vehicles and ever-popular SUVs, the market grew by 14% in November.

One thing is certain: 2023 will be up compared to 2022. According to the latest figures published by AAA Data, at the end of November, the market for new passenger cars (VPN) already exceeds, in volume, the total for all of 2022. In the first eleven months of the year, 1.59 million units have been sold compared to 1.53 million last year.

In the month of November alone, VPN registrations increased by 14%, still driven by electrified models. The used car market, for its part, is rebounding. According to data provided by AAA Data, the expert in augmented data, VPN registrations reached 152,712 units in the past month, a 14% increase.

While the City of Paris recently announced its intention to significantly increase non-residential parking fees for SUVs in Paris, a decision subject to a vote by Parisians in February 2024, SUVs continue to gain ground. They now account for 45.8% of the VPN market, with registrations up 17% at 69,936 units, catching up with the other major body style segment: sedans (46.4% of the market). The latter saw a 13% growth to 70,818 units, followed by station wagons (5.2% of the market) with 8,012 units (+12%).

In terms of powertrain, electric vehicles (20% of the market) saw a strong increase this month, compared to October 2023, when electric vehicles accounted for only 17% of sales. Registrations of electric cars surged by 52% compared to November 2022, with 30,769 cars sold. Car buyers are anticipating their purchases before the new 2024 bonus comes into effect. The bonus will be more restrictive as it will be linked to the environmental score of the purchased model. In this context, Tesla accounts for a third of EV sales in November 2023.

The same upward trend applies to hybrids (36% of the market): +30% to 54,637 registrations. Among these, 16% are non-rechargeable hybrids (+37% to 24,346 units), 10% micro-hybrids (+35% to 15,728 units), and 10% rechargeable hybrids (+18% to 14,512 units).

Gasoline, which still makes up 32% of the VPN market, shows modest growth with a +1% increase in registrations over the past month, reaching 48,815 units. Diesel, however, drops by 28% (9% of the market) to 13,227 registrations recorded.