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.