While the European Union saw an overall positive trend in commercial vehicle registrations in 2024, the truck segment presented a different picture. New truck registrations across the EU experienced a notable downturn, decreasing by 6.3% compared to the previous year, totaling 327,896 units. This contraction highlights specific challenges within the truck market, contrasting with the growth observed in vans and buses. Understanding the factors behind this decline is crucial for stakeholders in the automotive industry.
2024 EU Truck Registration Decline: Heavy Trucks Bear the Brunt
The primary driver of this overall decrease in new truck registrations was a significant 8.5% drop in the heavy-truck segment. This substantial fall in heavy-duty vehicle sales indicates potential shifts in freight transportation demands or economic factors impacting businesses’ investment in larger vehicles. Conversely, medium-truck registrations showed a positive trend, increasing by 5.6%. However, this growth in the medium segment was not sufficient to offset the considerable losses in the heavy truck category, leading to the net negative result for the entire truck market.
Analyzing the performance across major European markets reveals a mixed landscape. Among the four largest EU economies, three experienced declines in new truck registrations. Germany, a key indicator for the European market, saw a decrease of 6.9%. France and Italy also registered contractions, with declines of 2.9% and 0.7% respectively. In contrast, Spain stood out with robust growth, recording a 12% increase in new truck registrations. This positive performance in Spain suggests localized market dynamics or economic conditions that differ from the broader negative trend seen in other major EU countries.
Diesel Dominance Continues for New Trucks Amidst Electric Transition
Despite the push towards electrification in the automotive sector, diesel remains overwhelmingly the dominant fuel type for new trucks in the EU. In 2024, diesel trucks accounted for a staggering 95.1% of all new registrations. While this represents a slight decrease of 6.2% in diesel truck registrations compared to the previous year, it still underscores the continued reliance on diesel technology in the trucking industry.
Electrically chargeable truck registrations also experienced a decline, falling by 4.6%. Consequently, their market share remained stable at a modest 2.3%, mirroring the previous year’s figures. However, the performance of electric trucks varied significantly across different EU nations. Germany, Italy, and Sweden witnessed substantial growth in electric truck registrations, with increases of 57.4%, 115.2%, and 59.6% respectively. Despite these positive gains in specific markets, they were counteracted by significant drops in France (-57.4%) and the Netherlands (-42.3%), contributing to the overall decline at the EU level. This uneven adoption of electric trucks highlights the diverse infrastructure readiness and market acceptance across the European Union.
In conclusion, the EU new truck market in 2024 was characterized by an overall decline in registrations, primarily driven by reduced demand for heavy trucks. While diesel remains the undisputed leader in truck powertrains, the transition to electric trucks is underway but facing challenges, evidenced by inconsistent growth across member states. The data suggests that while some countries are embracing electric truck technology, broader market penetration is still hindered by various factors requiring further investigation and strategic initiatives.
