shaunl New car registrations in the European Union showed an 18% drop in August, witnessing declines in the four major markets of the region. Germany took the biggest hit with a drop of 27.8%, and France of 24.3%, Italy 13.4%, and Spain 6.5%, the European Automobile Manufacturers' Association (ACEA) said on Thursday. August's 18.3% decline compares to July's modest 0.2% rise. So far in 2024, new car registrations have increased by 1.4%, reaching almost 7.2M units. A striking decline was seen in the battery electric vehicles ((BEVs)) of 43.9% to 92,627 units compared to 165,204 units in August 2023. Its total market share declined to 14.4% from 21% a year before. The sharpest decline was seen in Germany (-68.8%) and France (-33.1%). Plug-in hybrid car registrations saw a decrease of 22.3% last month. Its market share slipped to 7.1% from 7.4% last year. The only segment that saw growth was the hybrid-electric vehicles, up by 6.6% in August to 201,552 units, with three of the four largest markets seeing gains. Its market share climbed to 31.3% from 24% in August 2023. In August 2024, petrol car sales declined by 17.1%, and the diesel car market saw a decline of 26.4%. The overall automotive market is undergoing shifts, with traditional internal combustion engine vehicles still holding a significant share despite their gradual decline. Tickers to watch: Volkswagen Group (OTCPK:VLKAF), Stellantis (STLA), Renault Group (OTCPK:RNSDF), Hyundai (OTCPK:HYMTF), Toyota Motor (TM), BMW (OTCPK:BMWYY), Mercedes-Benz (OTCPK:MBGAF), Ford Motor (F), Volvo Cars, Tesla (TSLA), Nissan (OTCPK:NSANY), Suzuki (OTCPK:SZKMY).