Hybrids overtake diesel in EU car market

  • Market: Fertilizers, Oil products
  • 22/10/21

Hybrid electric vehicles accounted for around a fifth of total EU passenger car sales during the third quarter, beating diesel's market share to become the second most popular option in the bloc for the first time.

Hybrids took a 20.7pc share of new car registrations in July-September, with sales rising by 31.5pc on the year to around 450,000 units, according to figures from the European Automobile Manufacturers Association (ACEA).

Battery electric vehicles (BEVs) and plug-in hybrids also grew their share of the EU market, thanks to year-on-year growth in sales of 56.7pc and 42.6pc, respectively. Sales of both types rose strongly in the EU's four biggest markets — Italy, Germany, France and Spain. Italy saw the biggest rise, with BEV sales up by 122pc on the year and plug-in hybrid registrations 130.6pc higher.

Conventional diesel and gasoline-powered cars lost ground on the back of the strong rise in demand for electrically-chargeable vehicles. Diesel registrations more than halved on the year to just over 380,000 in the third quarter, wiping over 10 percentage points off market share to just 17.6pc. Gasoline cars held onto the number one spot with more than 855,000 new registrations, but their share of the market also dropped, from 47.6pc in the third quarter last year to 39.5pc in July-September this year.


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
22/04/24

Colombia's electricity woes add to unrest against Petro

Colombia's electricity woes add to unrest against Petro

Bogota, 22 April (Argus) — Colombians took the streets of major cities and towns across the nation on Sunday to protest mainly against health, pension and labor changes, but potential power outages are also creating discontent. Authorities estimated that about 250,000 Colombians marched in widespread protests, sparked by changes in healthcare. Congress in April had rejected President Gustavo Petro's proposals in the sector, and the government the next day seized the two largest private-sector health insurers. Protesting healthcare workers say the government did this to implement changes through a back channel. "Regulatory noise and risk are likely to remain high amid announcements, proposals, and measures [that do not require congressional approval], aimed at changing the game's rules in strategic sectors," brokerage Credicorp Capital said. Colombians also protested being on the verge of electricity rationing like that in neighboring Ecuador as hydroelectric reservoirs remain at record-low levels. Several unions and other associations have long warned the Petro administration to take measures to offset the effects of the El Nino weather phenomenon. Electricity distributors last year called for allowing bills for energy purchased on the spot market to be deferred and for loosening price index rules, among other proposals. The national business council sent at least three letters to the president on the issue. At least nine separate letters calling for preparation to prevent blackouts were sent to the president and ministers. Several actions were only recently implemented . "There are no risk of electricity rationing in Colombia," former energy minister Irene Velez said in 2023. "We do not understand why some people are interested in generating panic." Government weather forecasts also overestimated rainfall expected for March, leading hydroelectric plans to use more water in the reservoirs than they otherwise would have, said director of the thermoelectric generation association (Andeg) Alejandro Castaneda. Reservoir levels stood at 29.5pc today, rising thanks to rains since 19 April, up from 28.75pc on 18 April. Electricity rationing is set to begin when reservoirs drop below 27pc, according to grid operator XM. By Diana Delgado Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Read more
News

German products demand up on supply concerns


22/04/24
News
22/04/24

German products demand up on supply concerns

Hamburg, 22 April (Argus) — German demand for heating oil and fuels rose sharply in the past week, with consumer concerns that conflict in the Middle East could restrict product availability were coupled with falling domestic product prices. Spot trade of heating oil, diesel and E5 gasoline submitted to Argus reached their highest weekly averages since the start of the year. The last time this amount of heating oil was traded was in December last year, and for gasoline and diesel it was at the beginning of October. Gasoline demand surged particularly in the Emsland and South regions, and middle distillates were primarily traded in Rhine-Main and Southwest. The missile attack by Iran on Israel on 13 April and Israel's drone attack on Iran on 19 April have heightened concerns of further escalation. An open conflict between Iran and Israel could affect supply of crude and gasoil from the Middle East by threatening major shipping routes of the Suez Canal, the strait of Hormuz and the eastern Mediterranean. These concerns led some German consumers to fill their tanks. Concurrently, product prices have fallen across Germany, further stimulating demand. Refineries in Karlsruhe and Neustadt-Vohburg have drawn buyers with fuel oil and gasoline prices below the German average. Heating oil at Miro's 310,000 b/d Karlsruhe traded at more than €2/100l below the national average, while gasoline at Bayernoil's 216,000 b/d Neustadt-Vohburg traded at a discount of almost €6/100l to the same average. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

US amsul stripping margin rises again in April


19/04/24
News
19/04/24

US amsul stripping margin rises again in April

Houston, 19 April (Argus) — The stripping margin for ammonium sulfate (amsul), driven by higher amsul prices, continued to rise in April even as variable costs grew. The stripping margin increased by nearly $24/st to $270/st for April, up by 10pc from March and up by 13pc from April 2023. Inland amsul trade exceeded $400/short tons (st) this month on continued supply tightness following production outages in the first quarter. Minimal length at New Orleans (Nola) spurred sellers to offer imported tons as high as $405/st fob for first half May delivery. Participants in the amsul market anticipate values to keep rising into May as supply tightness persists. Higher amsul prices have been partially caused by higher costs for inputs. The Tampa, Florida, ammonia contract rose by 7pc to $475/st in April from the month prior and the sulfur Tampa contract climbed by 17pc to $81 per long ton (lt) from the previous quarter. The cost of ammonia and sulfur were 8pc and 27pc lower than a year earlier, respectively. The total variable cost for amsul rose by $10/st in April to $143/st after holding steady in March. Rising ammonia prices have supported amsul variable costs but gains in the price of ammonia have not been as substantive as the market expected, sources said. Applications of ammonia in the US are slowing, which may weaken the price of the Tampa contract, but production outages could offset seasonal declines. Ma'aden's ammonia II plant is due to undergo a month of maintenance starting mid-April. Sulfur prices are expected to remain firm in the near term but lose momentum entering the third quarter on higher refinery utilization in the US and the return of Chinese exports of MAP and DAP, which could oversaturate the phosphate fertilizer market. Sulfuric acid is used to produce DAP and MAP. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Phosphates: Indian DAP stocks build in March


19/04/24
News
19/04/24

Phosphates: Indian DAP stocks build in March

London, 19 April (Argus) — DAP stocks rose by the equivalent of 2-3 import cargoes in March, or nearly 86,000t, as imports and local production outstripped offtake. Indian DAP production reached 218,900t in March, according to FAI data, down nearly 41pc on the same month in 2023. DAP imports reached 201,000t in March, down nearly 54pc on March 2023. Sales of DAP reached 334,200t, down nearly 12pc year on year. Stock draw/build, defined as production plus imports minus offtake, was plus 85,700t. This implies that stocks are still close to 2mn t of DAP, as estimated by the Indian government. Full fertilizer year DAP production (April 2023-March 2024) reached 4.29mn t, down around 1pc year on year. Imports were down 15.4pc at 5.57mn t, mainly due to the loss of supply from China owing to customs inspections, with sales at 10.8mn t, up nearly 4pc year on year. By Mike Nash Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

TUI Cruises receives methanol-ready ship


18/04/24
News
18/04/24

TUI Cruises receives methanol-ready ship

New York, 18 April (Argus) — Cruise ship company TUI Cruises took delivery of a methanol-ready cruise ship which will start operations at the end of June. Methanol-ready vessels allow ship owners to easily retrofit their vessels to burning methanol in the future. The 7,900t deadweight Mein Schiff 7 will operate in the North Sea, the Baltic Sea, along the European Atlantic coast and in the Mediterranean and run on marine gasoil (MGO). It was built by Finland's Meyer Turku shipyard. In January, TUI Cruises signed a memorandum of understanding with trading company Mabanaft for future supply of green methanol. Mabanaft would cover TUI's methanol needs in northern Germany, and gradually add other European locations. Grey methanol was pegged at $717/t MGO equivalent and biomethanol at $2,279/t MGOe average from 1-18 April in Amsterdam-Rotterdam-Antwerp. About 0.9 times and 2.9 times, respectively, the price of MGO, Argus assessments showed. TUI Cruises is a joint venture between the German tourism company TUI AG and US-based cruise ship company Royal Caribbean. By Stefka Wechsler Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more