Sales of new cars in Europe increased in July by 16.9% to 1.02 mil. In the first seven months of the year, the growth reached 17.6% totalling 6.3 mil units. This is still 22% lower than in 2019.
Some 13.6% of the new cars sold were battery-electric cars in July 2023.
Most vehicles (243 thousand) were sold in Germany (up 18.1% yoy), followed by the United Kingdom (144 thousand, up 28.3%) and France with 129 thousand cars (up 19.9%).
Volkswagen Group sold the most cars in July 2023 in Europe, some 280 thousand vehicles representing 27.4% of the European market
Sales of new passenger cars reached 1,022 thousand in July 2023 in the enlarged Europe (EU plus Iceland, Norway and Switzerland), according to ACEA. This is 16.9%, or 148 thousand more than in the previous year. In the first seven months of 2023, some 7,611 thousand cars were sold in Europe, up 17.6% yoy.
In July, the EU car market rose 15.2% yoy, or the twelfth consecutive month of growth. New car registrations reached 851,156 units as the bloc recovers from last year’s component shortages. So far this year, the EU new car registrations grew 17.6%, totalling 6.3 mil units. Alas, the year-to-date volumes are still 22% lower than in 2019. Some 13.6% of the new cars sold were battery-electric cars in July 2023.
Historically, between 1990 and 2023, sales of passenger cars in Europe reached a high of 1,937 thousand in March 2017 and a low of 292 thousand in April 2020.
In July, most vehicles (243 thousand) were sold in Germany (up 18.1% yoy), followed by the United Kingdom (144 thousand, up 28.3%), France with 129 thousand cars (up 19.9%), 119 thousand new vehicles were registered in Italy (up 8.71%) and 81.2 thousand in Spain (up 10.7%). The five largest countries accounted for 62.1% of total new vehicles registered in July 2023.
In absolute terms, the best performance in sales of new cars has been seen in Germany (up 37.4 thousand cars) and the United Kingdom (up 31.8 thousand cars). At the other end of the scale, Hungary and Sweden showed the weakest change in registration of new cars in July when compared to last year (down 0.615 thousand and down 0.534 thousand cars, respectively).
In relative terms, sales in Cyprus (+52.1%) and Belgium (+32.4%) performed the best compared to a year ago, whereas registration in Iceland and Hungary the worst (-22.0% and -6.87% yoy), in July 2023, according to ACEA:
In the first seven months of the year, some 7,611 thousand cars were sold in Europe, up 17.6% yoy. The table below shows details of the sales for each of the European country:
| Country | July 2023 | July 2022 | YOY Change % | 1-7/2023 | 1-7/2022 | YOY Change % |
|---|---|---|---|---|---|---|
| Austria | 17.6 | 16.1 | 9.42 | 144 | 125 | 15.7 |
| Belgium | 34.7 | 26.2 | 32.4 | 299 | 222 | 35.0 |
| Bulgaria | 3.37 | 2.74 | 23.0 | 19.9 | 17.4 | 14.5 |
| Croatia | 5.14 | 5.13 | 0.254 | 38.6 | 28.0 | 37.8 |
| Cyprus | 1.69 | 1.11 | 52.1 | 9.35 | 7.24 | 29.1 |
| Czechia | 16.1 | 13.4 | 19.6 | 132 | 112 | 17.2 |
| Denmark | 11.2 | 9.83 | 14.4 | 95.6 | 83.4 | 14.6 |
| Estonia | 1.82 | 1.57 | 16.1 | 14.0 | 12.6 | 10.4 |
| Finland | 6.40 | 5.50 | 16.2 | 53.3 | 49.0 | 8.72 |
| France | 129 | 108 | 19.9 | 1,019 | 880 | 15.8 |
| Germany | 243 | 206 | 18.1 | 1,640 | 1,444 | 13.6 |
| Greece | 12.4 | 10.9 | 13.8 | 82.7 | 65.7 | 25.9 |
| Hungary | 8.34 | 8.96 | -6.87 | 64.8 | 66.4 | -2.35 |
| Iceland | 1.27 | 1.63 | -22.0 | 11.5 | 10.9 | 5.88 |
| Ireland | 27.1 | 21.8 | 24.1 | 105 | 87.1 | 20.1 |
| Italy | 119 | 110 | 8.71 | 960 | 794 | 21.0 |
| Latvia | 1.69 | 1.47 | 14.8 | 11.6 | 9.62 | 20.8 |
| Lithuania | 2.33 | 2.14 | 9.04 | 17.0 | 16.1 | 5.19 |
| Luxembourg | 4.21 | 3.72 | 13.1 | 30.7 | 25.5 | 20.2 |
| Malta | 0.700 | 3.77 | 0 | |||
| Netherlands | 28.7 | 22.1 | 30.0 | 231 | 176 | 31.1 |
| Norway | 7.53 | 7.25 | 3.84 | 74.1 | 75.8 | -2.22 |
| Poland | 36.4 | 34.7 | 4.86 | 275 | 247 | 11.3 |
| Portugal | 16.1 | 14.5 | 10.9 | 126 | 89.9 | 40.3 |
| Romania | 13.6 | 12.1 | 12.7 | 87.3 | 70.8 | 23.3 |
| Slovakia | 8.00 | 6.22 | 28.6 | 53.5 | 46.2 | 15.8 |
| Slovenia | 3.78 | 3.80 | -0.527 | 31.1 | 29.6 | 4.98 |
| Spain | 81.2 | 73.4 | 10.7 | 587 | 481 | 22.0 |
| Sweden | 17.3 | 17.8 | -2.99 | 158 | 162 | -2.50 |
| Switzerland | 18.6 | 15.7 | 18.7 | 142 | 125 | 13.6 |
| United Kingdom | 144 | 112 | 28.3 | 1,094 | 914 | 19.6 |
| EU + EFTA | 1,022 | 875 | 16.9 | 7,611 | 6,473 | 17.6 |
Volkswagen Group sold the most cars in July 2023 in Europe, some 280 thousand vehicles representing 27.4% of the European market. Sales of Hyundai Group amounted to 96.7 thousand vehicles (or 9.50% of the market) while Renault Group and BMW Group held 9.40% and 7.00% of the European market in July. Overall, the five largest manufacturers sold 60.1% of all new cars in July:
When compared to last year, Volkswagen Group has gained the most in terms of market share rising its market position by 1.07 bp, followed by Renault (up 0.400 bp) and Mazda Motor Corporation (up 0.284 bp). Daimler Group were on the other end of the market spectrum dropping 0.503 bp on the market alongside with Toyota Motor Corporation (down 0.395 bp) and Ford Motor Company (-0.344 bp):
In terms of particular brands, Volkswagen stands out as the most favorite brand accounting for 759 thousand sold vehicles, or 9.98% of all new passenger cars sold on the European market in July 2023.
In terms of momentum, Skoda gained the most in terms of market share in the first month of the year 2022 (up 0.468 bp) followed by Audi and Mazda. Citroen and Hyundai were on the other end of the market spectrum losing -0.598 bp and -0.579 bp respectively:
Volkswagen Group sold 280 thousand new passenger cars representing a 27.4% share of all new passenger cars sold in Europe in July 2023. This is 19.2% more vehicles and a 0.535 pp increase in market share when compared to last year. Looking back three years, VW's market share was 26.4%.
The Group sold 113 thousand of Volkswagen brand cars in July, followed by 60.5 thousand of Audis and 57.6 thousand of Skodas. Seat sold 22.1 thousand vehicles, Cupra sold 18.6 thousand and Porsche some 7.87 thousand cars in July 2023:
Stellantis sold 160 thousand new passenger cars representing a 15.7% share of all new passenger cars sold in Europe in July 2023. This is 3.26% fewer vehicles and a 3.26 pp decrease in market share when compared to last year.
The Group sold 46.2 thousand of Peugeot brand cars in July, followed by 34.4 thousand of Opels and 31.4 thousand of Fiats. Citroen sold 25.7 thousand vehicles, Jeep sold 10.5 thousand, Alfa-romeo sold 4.06 thousand, Ds sold 3.79, and Lancia-chrysler some 3.35 cars in July 2023:
BMW Group sold 71.9 thousand new passenger cars representing a 7.03% share of all new passenger cars sold in Europe in July 2023. This is 19.9% more vehicles and a 0.176 pp increase in market share when compared to last year. Compared to three years ago, BMW Group's market share is now 0.134 pp lower.
The group sold 56.7 thousand of BMW brand cars, followed by 15.2 thousand of Minis in July 2023:
Hyundai Group sold 96.7 thousand new passenger cars representing a 9.45% share of all new passenger cars sold in Europe in July 2023. This is 5.33% more vehicles and a 1.04 pp decrease in market share when compared to last year. Compared to three years ago, Hyundai Group's market share is now 2.23 pp higher.
The group sold 49.1 thousand of Kia brand cars, followed by 47.6 thousand of Hyundais in July 2023:
Renault Group sold 95.7 thousand new passenger cars representing a 9.36% share of all new passenger cars sold in Europe in July 2023. This is 13.9% more vehicles and a 0.243 pp decrease in market share when compared to last year. By comparison, three years ago, Renault Group's market share was 10.7%.
The group sold 52.5 thousand of Renault brand cars in July, followed by 42.8 thousand of Dacias and of s:
Toyota Group sold 69.8 thousand new passenger cars representing a 6.83% share of all new passenger cars sold in Europe in July 2023. This is 5.30% more vehicles and a 0.749 pp decrease in market share when compared to last year. Toyota Group's market share three years ago, by comparison, stood at 5.54%.
The group sold 65.1 thousand of Toyota brand cars in July, with Lexus following at 4.67 thousand cars:
Jaguar Land Rover Group sold 12.3 thousand new passenger cars representing a 1.20% share of all new passenger cars sold in Europe in July 2023. This is 0.945% fewer vehicles and a 0.216 pp decrease in market share when compared to last year. Three years ago however, the market share of Jaguar Land Rover Group was 1.22%.
The group sold 10.3 thousand of Land Rovers in July, followed by 1.92 thousand of Jaguars:
Mercedes-Benz sold 51.2 thousand new passenger cars representing a 5.01% share of all new passenger cars sold in Europe in July 2023. This is 4.37% more vehicles and a 0.599 pp decrease in market share when compared to last year. By comparison, three years ago, Mercedes-Benz's market share was 6.46%.
The group sold 49.0 thousand of Mercedes in July, followed by 2.24 thousand of Smart cars:
Ford sold 41.5 thousand new passenger cars representing a 4.06% share of all new passenger cars sold in Europe in July 2023. This is 25.3% more vehicles and a 0.275 pp increase in market share when compared to last year. Compared to three years ago, Ford's market share is now 1.87 pp lower.
Volvo sold 21.1 thousand new passenger cars representing a 2.06% share of all new passenger cars sold in Europe in July 2023. This is 29.5% more vehicles and a 0.201 pp increase in market share when compared to last year. Compared to three years ago, Volvo's market share is now 0.181 pp lower.
Nissan sold 22.2 thousand new passenger cars representing a 2.17% share of all new passenger cars sold in Europe in July 2023. This is 38.3% more vehicles and a 0.336 pp increase in market share when compared to last year. Compared to three years ago, Nissan's market share is now 0.138 pp lower.
Mazda sold 13.1 thousand new passenger cars representing a 1.28% share of all new passenger cars sold in Europe in July 2023. This is 83.5% more vehicles and a 0.464 pp increase in market share when compared to last year. Compared to three years ago, Mazda's market share is now 0.092 pp higher.
Mitsubishi sold 2.92 thousand new passenger cars representing a 0.285% share of all new passenger cars sold in Europe in July 2023. This is 25.2% fewer vehicles and a 0.160 pp decrease in market share when compared to last year. Compared to three years ago, Mitsubishi's market share is now 0.585 pp lower.
Honda sold 4.92 thousand new passenger cars representing a 0.481% share of all new passenger cars sold in Europe in July 2023. This is 16.8% more vehicles and a 0 pp increase in market share when compared to last year. Compared to three years ago, Honda's market share is now 0.223 pp lower.
Tesla sold 17.8 thousand new passenger cars representing a 1.74% share of all new passenger cars sold in Europe in July 2023. This is 794% more vehicles and a 1.52 pp increase in market share when compared to last year.
Based on a comparison of 64 countries, China ranked the highest with 20,178 thousand passenger cars sold in 2020 followed by Japan and the USA. Total sales of passenger cars reached 53,599 thousand in 2020 in the world, according to ACEA. This is 15.9% less than in the previous year and 3.98% less than 10 years ago. Historically, total sales of passenger cars reached an all time high of 70,695 thousand in 2017 and an all time low of 11,000 thousand in 1961. The average annual growth stands at 2.39% since 1960.
The top ranked country, China, accounted for 37.6% of all passenger cars sold in the world. The top 3 countries held a 51.1% share while the ten largest countries some 75.9% in 2020.
China was the largest car producer in 2020 with 19,994 thousand followed by Japan and Germany. Total production of passenger cars reached 55,834 thousand in 2020 in the world, according to ACEA. China accounted for 35.8% of the world's production, while the top 3 countries held a 54.6% share and the ten largest countries some 79.3% in 2020:
Based on a comparison of 29 countries, Germany ranked the highest in sales of electric cars with 395 thousand followed by France and United Kingdom in 2020. When looking at the ratio of electric to total new cars sold, Norway ranked the highest with 74.8% followed by Iceland and Sweden:
By contrast, Bulgaria ranked the highest in the number of petrol-fuelled as a proportion of new cars sold with 73.4%, followed by Cyprus and Slovenia. In terms of diesel-fuelled vehicles, Ireland ranked the highest with 26.8% followed by Czechia and Austria:
In 2016, Switzerland ranked the highest in 4x4 drive cars as a share of new cars sold with 42.1% followed by Norway and Sweden. Switzerland ranked the highest in the average power of new cars sold with 122 kW followed by Luxembourg and Sweden:
Based on the latest available data, Lithuania, Estonia and Romania were the countries with the oldest average age of passenger cars. The average age was an ancient 16.8 years in Lithuania, 16.7 years years for Estonia and 16.5 years years in Romania. On the other end of the scale was Austria with 8.30 years years, the United Kingdom with 8.00 years years and Luxembourg with 6.50 years years.
Based on a comparison of 27 firms among Global Car Producers, Volkswagen Group generated the highest sales in 2019 followed by Toyota Motor Corporation and Daimler Group. At the same time, Toyota Motor Corporation had the highest market value followed by Volkswagen Group and Tesla Inc.:
Volkswagen Group generated the highest earnings before interest costs, taxes and depreciation (so called EBITDA) in 2019 followed by Toyota Motor Corporation and General Motors. At the same time, Ferrari generated the highest EBITDA Margin followed by Porsche AG and BMW Group.
Ferrari produced the highest net profit per car sold in 2019 followed by Porsche AG and Toyota Motor Corporation. Ferrari made a net profit of USD 77,831 for each car sold, down 21.7% compared to the previous year.
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