Monthly registrations of new passenger cars in Europe in November 2024 declined by 1.7 percent year on year. According to data from JATO Dynamics, 1,054,043 units were registered across 28 European markets in November, taking the year-to-date volume of new vehicle registrations to 11,847,573 units, an increase of just 0.8 percent compared to the corresponding period last year.

In November, Europe’s ‘big five’ automakers – Volkswagen Group, Stellantis, Renault Group, BMW Group and Mercedes-Benz Group – were responsible for 65 percent of total sales. Japan’s carmakers followed with a 13 percent market share, while Korean brands were responsible for 7.5 percent of total sales.

The United States came next, with Tesla and Ford accounting for 5.9 percent of total monthly registrations, while China’s carmakers held 6.7 percent market share last month. Growth in November came from Renault Group (+8.6 percent), Toyota (+9.8 percent) and Geely (+16 percent). By contrast, double-digit drops in registrations were posted by Stellantis, Hyundai-Kia, Ford, Tesla and Nissan; Germany’s Mercedes-Benz and BMW also posted losses last month.

November 2024 also saw significant changes from a brand perspective. Skoda occupied third position in the monthly rankings, thanks to strong sales of its Fabia, Enyaq and Kodiaq models. Volvo overtook Vauxhall/Opel, while both MG and Cupra surpassed Fiat, which recorded a 39 percent drop in registrations following the discontinuation of the gasoline-powered model of its Fiat 500.

Elsewhere, Porsche outsold Land Rover, BYD registered more units than Honda, Omoda moved ahead of Subaru, and Xpeng registered more vehicles than Jaguar or Lancia.

BEVs gain market share

While overall registrations trended downwards, demand for BEVs in Europe increased by 0.8 percent year on year. The market share of BEVs increased to 17.4 percent in November 2024, compared to 17.0 percent in November 2023. Growth was strongest in the UK (+58 percent), Netherlands (+44 percent), Norway (+30 percent) and Belgium (+17 percent), while demand fell by 25 percent and 22 percent in France and Germany respectively.

Electric models from Volkswagen Group accounted for 26 percent of monthly BEV registrations in Europe last month, with volumes up 16 percent. By contrast, Tesla posted a 28 percent drop in volumes as it continues to navigate delays associated with the updated model of its Model Y. It was the second largest seller of BEVs, followed by BMW Group and Stellantis, which occupied third and fourth place respectively.

Chinese automakers shine

The standout performances of the month came from China’s automakers, which combined registered more than 24,100 units of BEVs in November (including Volvo, Polestar and Lotus), just behind Tesla. China’s automakers increased market share in the BEV category, from 12.5 percent in November 2023 to 13.2 percent last month. Growth was driven by Leapmotor (+296 percent), BYD (+127 percent), Xpeng (+93 percent) and Geely (+33 percent).

The curious case of Dacia Sandero

Going from strength-to-strength, the Dacia Sandero ranked among the top ten in the monthly model rankings in November 2024. The Volkswagen Tiguan, Peugeot 208, Toyota Yaris and Volkswagen T-Roc recorded the highest year-on-year growth. The Dacia Sandero consolidated its position as the region’s most popular passenger car and widened the gap from the Volkswagen Golf, which is second in the year-to-date ranking. Other strong performers in November include the Renault Captur, Toyota C-HR, Skoda Fabia, Peugeut 3008, Skoda Kodiaq, Jeep Avenger, BMW Series 5, and Suzuki Swift, among others

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Japanese automotive companies Honda Motor Co and Mitsubishi Motors Corporation have signed a Memorandum of Understanding (MoU) to develop a Honda pickup truck based on the Mitsubishi Triton.

The agreement marks the first product-supply initiative between the two manufacturers, with the new Honda model scheduled to enter the ASEAN market in 2028. The collaboration originates from a strategic partnership framework established in August 2024 among Honda, Mitsubishi Motors and Nissan Motor, which explores vehicle supply arrangements to expand product lineups across international markets.

As per the agreement, Honda will enter the pickup truck segment in the ASEAN region by utilising Mitsubishi's 1-tonne ladder-frame Triton platform. For Mitsubishi Motors, the OEM supply contract will increase production volumes and vehicle assembly capacity utilisation at its manufacturing facilities in Thailand. The three partner companies continue to examine additional vehicle supply and technology-sharing initiatives.

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Industry leaders at the Renewable Energy India Expo and The Battery Show India (TBSI) highlighted critical mineral access, technology partnerships and domestic manufacturing capabilities to strengthen India's electric vehicle supply chain.

The event convened over 1,080 exhibitors, 1,400 brands and 54,000 professionals, focusing on international collaboration across critical minerals, battery technology and energy storage.

Interestingly, Australia, represented by 20 companies and 32 exhibitors, identified battery production and electric vehicle supply chains as areas for cooperation with Indian manufacturers, leveraging its lithium, cobalt and rare earth reserves. Projections shared at the exhibition indicate India's renewable energy market will reach 486 GW by 2030, while the battery storage sector is projected to surpass USD 8.5 billion by 2031, growing at a compound annual growth rate of 33 percent.

Philip Green, Australia’s High Commissioner to India, said, "The two countries could combine Australia’s engineering expertise and mineral resources with India’s manufacturing strength and integration into global supply chains. Australia produces more than 50 percent of the world’s lithium, according to Green, and holds the world’s second-largest cobalt reserves. It also ranks second or third globally in rare earth resources." he said.

Yogesh Mudras, Managing Director of Informa Markets in India, said, "Renewable energy generation and grid storage needed to expand together as the country advanced its energy transition. India’s renewable energy market is projected to reach 486 GW by 2030, growing at a compound annual growth rate (CAGR) of 15 percent. The country’s battery storage sector is projected to exceed USD 8.5 billion by 2031, with a CAGR of 33 percent."

Anandi Iyer, Director of the Fraunhofer Office in India, said, "India and Germany had opportunities to collaborate in battery research, power electronics, advanced engineering and industrial automation. Approximately 800 GW of renewable energy capacity additions globally in 2025, while global battery storage deployment reached 108 GW, an increase of 40 per cent from the previous year. Technological self-reliance did not mean working in isolation, highlighting the importance of trusted partnerships and supply chains that can translate research into commercially viable solutions."

Manu Srivastav, Additional Chief Secretary in Madhya Pradesh’s Power & Renewable Energy Department, said, "Renewable energy was becoming increasingly competitive with conventional power as costs declined.”  

Jai Asundi, Executive Director of the Centre for Study of Science, Technology & Policy, said, "India would need continued investment in manufacturing, energy storage, grid infrastructure, research and skilled talent to build a resilient clean energy ecosystem."

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Caterham has confirmed its participation in the London International Motor Show 2027, with the British manufacturer set to appear in the event's Built in Britain zone at Excel London from 26 to 28 February 2027. The maker of the legendary Seven, produced in Britain since 1973, will display a selection of its cars on stand 1920.

Visitors will have the opportunity to examine one of the purest driving machines available anywhere, with the Seven widely regarded as a definitive British sports car thanks to its light, simple, hand-built construction in Kent and driver-focused engineering. The Built in Britain zone celebrates the designers, engineers and craftspeople sustaining the country's automotive industry, with specialist sports car makers playing a central role.

Though small in scale, these manufacturers wield enormous influence through cars whose character and focus are admired by major global firms and sought after by enthusiasts. The zone offers them a capital stage before a national audience. The show runs alongside Motorsport Expo and Car Culture UK, with one combined ticket covering all three and around 90,000 visitors expected across the weekend. Friday 26 February serves as the press and trade day, running alongside the public opening.

Stephen Maitland-Oxley, Event Director, London International Motor Show, said, “Caterham is exactly the kind of company Built in Britain was created to celebrate. The Seven is a British icon, and the team behind it has spent more than 50 years proving that lightness, ingenuity and sheer driving fun never go out of fashion. Britain's niche sports car makers are a national asset and we are delighted to give them the spotlight they deserve. Having Caterham with us is a wonderful way to set the tone for the zone.”

Trevor Steel, Senior Vice President – Operations, Caterham Cars, said, “ "At its core, the Caterham Seven is engineered to deliver a driving experience that is as pure, enjoyable and rewarding to the driver, as any car on sale today. Since its inception by Colin Chapman nearly 70 years ago, and since becoming a Caterham in 1973, the Seven has always been proudly built here in Britain, and this is heritage we’re always wishing to celebrate. Built in Britain is a natural home for us, and we are looking forward to meeting enthusiasts, owners and a new generation of drivers in London next February.”

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GP Petroleums has appointed Shirish Suvagia as its new Chief Financial Officer and Key Managerial Personnel, effective 15 October 2026.

Suvagia is a Chartered Accountant with over 23 years of experience in corporate finance, treasury, strategic planning, mergers & acquisitions, and debt and equity fundraising.

He holds Bachelor's and Master's degrees in Commerce from the University of Mumbai, an Executive MBA from IIM Indore, a CISA certification from ISACA, and an IFRS certification from the ICAI.

In his role as CFO, Suvagia will manage the company's financial strategy, treasury, business planning, capital allocation, risk management and reporting functions as GP Petroleums expands its IPOL lubricants brand across domestic and international markets.

Ayush Goel, Chairman & Managing Director of GP Petroleums, said, "We are delighted to welcome Suvagia to GP Petroleums. His experience across corporate finance, treasury, fundraising and mergers & acquisitions will be a valuable asset to the Company, particularly as we focus on capital allocation, business expansion and long-term value creation. We look forward to his contribution as we take the company forward. We are confident that his leadership and financial expertise will support the Company in creating sustainable value for all stakeholders."

"I am excited to join GP Petroleums at an important stage of its growth journey. IPOL is a well-established and respected brand with strong market fundamentals and significant opportunities ahead. I look forward to partnering with the Board and leadership team to further strengthen the Company's financial capabilities, support strategic growth initiatives, and drive long-term value creation for stakeholders," said Suvagia.

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