Article said, that In July, European new car registrations surged by 15.2%, marking the twelfth consecutive month of growth as the automotive sector rebounds from supply chain challenges stemming from the pandemic. Data from the European Automobile Manufacturers Association (ACEA) revealed this positive trend. Notably, electric vehicle (EV) sales experienced a remarkable 60.6% surge, propelled by subsidies implemented in several European Union nations. Full EVs constituted 13.6% of all new car sales, demonstrating a notable increase from the less than 10% recorded in July 2022. Concurrently, plug-in hybrids, which integrate both a combustion engine and a substantial battery, accounted for 7.9% of sales, while a quarter of all vehicles sold in the EU were full hybrids. Collectively, petrol and diesel engine models comprised slightly below 50% of sales.
A stark contrast from the past, diesel vehicles, which once constituted over 50% of new car sales as recently as 2015, represented just over 14% of sales in July. Leading car manufacturer Volkswagen witnessed a substantial 17.9% sales rise in July, according to the ACEA, whereas BMW and Renault observed sales increase by 22.5% and 16.9%, respectively. In contrast, Stellantis, facing logistical obstacles and car delivery challenges in Europe, encountered a decline of 6.1% in sales for the same period. Quite good news for car industry I thought to myself. Since I remember one other article, which said that Renault is planning for IPO of Ampere in spring of 2024, I decided to check their stocks, how they are evolving.
Since coming to the market, stocks created just a 36% rise. However, at some point, their price was at 116 EUR, which generated a growth of 320%.* In the last five years, there was more of a down-trend for them, as the price has been around the current at 37,48 EUR.* In hopes that once their stocks will go back to the all-time high, I will for now follow the development, and maybe enter a trade some time before the mentioned IPO will take place.
Movement of Renault in the last five years. (Source: Investing) *
* Past performance is no guarantee of future results.