Sales of new cars increased by 200 thousand in June compared to last year
In the first six months of the year, the growth reached 17.7% yoy
Belgium performed relatively the best (up 48.7% yoy) while sales in Hungary showed the weakest change compared to the last year (down 1.40% yoy)
Sales of new passenger cars reached 1,266 thousand in June 2023 in the enlarged Europe (EU plus Iceland, Norway and Switzerland), according to ACEA. This is 18.7%, or 200 thousand more than in the previous year. In the first six months of 2023, some 6,588 thousand cars were sold in Europe, up 17.7% yoy.
In June 2023, the EU car market grew by 17.8% to 1 mil registered units. This growth can be attributed to the region’s rebound from a low comparison base last year, primarily driven by vehicle component shortages. With the exception of Hungary, all the EU markets grew. Despite the growth, the results for the first half of 2023 are still 21% lower compared to 2019.
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 June, most vehicles (280 thousand) were sold in Germany (up 24.8% yoy), followed by France (191 thousand, up 11.5%), the United Kingdom with 177 thousand cars (up 25.8%), 139 thousand new vehicles were registered in Italy (up 9.19%) and 101 thousand in Spain (up 13.3%). The five largest countries accounted for 62.2% of total new vehicles registered in June 2023.
In absolute terms, the best performance in sales of new cars has been seen in Germany (up 55.6 thousand cars) and the United Kingdom (up 36.3 thousand cars). At the other end of the scale, Hungary and Iceland showed the weakest change in registration of new cars in June when compared to last year (down 0.133 thousand and up 0.068 thousand cars, respectively).
In relative terms, sales in Belgium (+48.7%) and Croatia (+43.7%) performed the best compared to a year ago, whereas registration in Hungary and Iceland the worst (-1.40% and 2.73% yoy), in June 2023, according to ACEA:
In the first six months of the year, some 6,588 thousand cars were sold in Europe, up 17.7% yoy. The table below shows details of the sales for each of the European country:
| Country | June 2023 | June 2022 | YOY Change % | 1-6/2023 | 1-6/2022 | YOY Change % |
|---|---|---|---|---|---|---|
| Austria | 24.5 | 22.8 | 7.69 | 127 | 109 | 16.7 |
| Belgium | 51.8 | 34.8 | 48.7 | 264 | 195 | 35.4 |
| Bulgaria | 3.80 | 2.92 | 30.3 | 16.5 | 14.6 | 12.9 |
| Croatia | 7.09 | 4.93 | 43.7 | 33.4 | 22.9 | 46.2 |
| Cyprus | 1.11 | 1.02 | 8.50 | 7.66 | 6.13 | 24.9 |
| Czechia | 20.5 | 18.7 | 9.30 | 116 | 98.9 | 16.8 |
| Denmark | 18.3 | 14.8 | 23.6 | 84.3 | 73.6 | 14.7 |
| Estonia | 2.26 | 1.93 | 17.1 | 12.1 | 11.1 | 9.54 |
| Finland | 9.16 | 7.40 | 23.9 | 46.9 | 43.5 | 7.77 |
| France | 191 | 171 | 11.5 | 890 | 772 | 15.3 |
| Germany | 280 | 225 | 24.8 | 1,397 | 1,238 | 12.8 |
| Greece | 13.4 | 11.1 | 20.8 | 70.4 | 54.9 | 28.3 |
| Hungary | 9.36 | 9.49 | -1.40 | 56.5 | 57.4 | -1.64 |
| Iceland | 2.56 | 2.49 | 2.73 | 10.3 | 9.27 | 10.8 |
| Ireland | 2.99 | 2.15 | 38.8 | 77.5 | 65.2 | 18.8 |
| Italy | 139 | 127 | 9.19 | 841 | 684 | 23.0 |
| Latvia | 1.91 | 1.56 | 22.4 | 9.93 | 8.15 | 21.8 |
| Lithuania | 3.05 | 2.52 | 21.2 | 14.6 | 14.0 | 4.60 |
| Luxembourg | 4.77 | 3.59 | 32.8 | 26.5 | 21.8 | 21.5 |
| Malta | 0.664 | 3.07 | 0 | |||
| Netherlands | 41.4 | 30.0 | 37.8 | 203 | 154 | 31.2 |
| Norway | 15.6 | 14.9 | 4.46 | 66.5 | 68.5 | -2.86 |
| Poland | 41.6 | 39.6 | 5.04 | 239 | 212 | 12.4 |
| Portugal | 22.0 | 15.5 | 42.1 | 110 | 75.4 | 46.0 |
| Romania | 13.2 | 11.1 | 19.0 | 73.6 | 58.7 | 25.4 |
| Slovakia | 8.37 | 8.02 | 4.32 | 45.5 | 40.0 | 13.8 |
| Slovenia | 4.67 | 4.39 | 6.28 | 27.3 | 25.8 | 5.79 |
| Spain | 101 | 89.3 | 13.3 | 506 | 408 | 24.0 |
| Sweden | 28.3 | 26.1 | 8.41 | 141 | 144 | -2.44 |
| Switzerland | 25.2 | 21.3 | 18.5 | 124 | 110 | 12.9 |
| United Kingdom | 177 | 141 | 25.8 | 950 | 802 | 18.4 |
| EU + EFTA | 1,266 | 1,066 | 18.7 | 6,588 | 5,598 | 17.7 |
Volkswagen Group sold the most cars in June 2023 in Europe, some 326 thousand vehicles representing 25.7% of the European market. Sales of Renault Group amounted to 133 thousand vehicles (or 10.5% of the market) while Hyundai Group and BMW Group held 8.40% and 6.60% of the European market in June. Overall, the five largest manufacturers sold 57.6% of all new cars in June:
When compared to last year, Volkswagen Group has gained the most in terms of market share rising its market position by 1.16 bp, followed by Renault (up 0.500 bp) and Mazda Motor Corporation (up 0.256 bp). Hyundai Motor Company were on the other end of the market spectrum dropping 1.12 bp on the market alongside with Daimler Group (down 0.488 bp) and Ford Motor Company (-0.440 bp):
In terms of particular brands, Volkswagen stands out as the most favorite brand accounting for 646 thousand sold vehicles, or 9.81% of all new passenger cars sold on the European market in June 2023.
In terms of momentum, Skoda gained the most in terms of market share in the first month of the year 2022 (up 0.486 bp) followed by Audi and Volkswagen. Hyundai and Kia were on the other end of the market spectrum losing -0.562 bp and -0.555 bp respectively:
Volkswagen Group sold 326 thousand new passenger cars representing a 25.7% share of all new passenger cars sold in Europe in June 2023. This is 26.8% more vehicles and a 1.64 pp increase in market share when compared to last year. Looking back three years, VW's market share was 24.1%.
The Group sold 138 thousand of Volkswagen brand cars in June, followed by 72.3 thousand of Audis and 61.5 thousand of Skodas. Seat sold 24.1 thousand vehicles, Cupra sold 19.6 thousand and Porsche some 9.32 thousand cars in June 2023:
Stellantis sold 210 thousand new passenger cars representing a 16.6% share of all new passenger cars sold in Europe in June 2023. This is 2.49% fewer vehicles and a 3.62 pp decrease in market share when compared to last year.
The Group sold 64.5 thousand of Peugeot brand cars in June, followed by 47.6 thousand of Opels and 35.3 thousand of Citroens. Fiat sold 35.0 thousand vehicles, Jeep sold 12.0 thousand, Alfa-romeo sold 5.50 thousand, Ds sold 5.30, and Lancia-chrysler some 4.35 cars in June 2023:
BMW Group sold 83.7 thousand new passenger cars representing a 6.62% share of all new passenger cars sold in Europe in June 2023. This is 15.8% more vehicles and a 0.168 pp decrease in market share when compared to last year. Compared to three years ago, BMW Group's market share is now 0.060 pp higher.
The group sold 66.2 thousand of BMW brand cars, followed by 17.5 thousand of Minis in June 2023:
Hyundai Group sold 107 thousand new passenger cars representing a 8.42% share of all new passenger cars sold in Europe in June 2023. This is 4.82% more vehicles and a 1.12 pp decrease in market share when compared to last year. Compared to three years ago, Hyundai Group's market share is now 2.24 pp higher.
The group sold 54.6 thousand of Kia brand cars, followed by 52.0 thousand of Hyundais in June 2023:
Renault Group sold 133 thousand new passenger cars representing a 10.5% share of all new passenger cars sold in Europe in June 2023. This is 3.50% more vehicles and a 1.55 pp decrease in market share when compared to last year. By comparison, three years ago, Renault Group's market share was 13.8%.
The group sold 76.9 thousand of Renault brand cars in June, followed by 55.7 thousand of Dacias and of s:
Toyota Group sold 81.6 thousand new passenger cars representing a 6.45% share of all new passenger cars sold in Europe in June 2023. This is 11.3% more vehicles and a 0.427 pp decrease in market share when compared to last year. Toyota Group's market share three years ago, by comparison, stood at 5.70%.
The group sold 75.1 thousand of Toyota brand cars in June, with Lexus following at 6.48 thousand cars:
Jaguar Land Rover Group sold 13.6 thousand new passenger cars representing a 1.08% share of all new passenger cars sold in Europe in June 2023. This is 15.3% more vehicles and a 0.031 pp decrease in market share when compared to last year. Three years ago however, the market share of Jaguar Land Rover Group was 1.00%.
The group sold 11.0 thousand of Land Rovers in June, followed by 2.62 thousand of Jaguars:
Mercedes-Benz sold 63.2 thousand new passenger cars representing a 5.00% share of all new passenger cars sold in Europe in June 2023. This is 7.80% more vehicles and a 0.506 pp decrease in market share when compared to last year. By comparison, three years ago, Mercedes-Benz's market share was 5.94%.
The group sold 61.0 thousand of Mercedes in June, followed by 2.27 thousand of Smart cars:
Ford sold 51.2 thousand new passenger cars representing a 4.05% share of all new passenger cars sold in Europe in June 2023. This is 32.0% more vehicles and a 0.407 pp increase in market share when compared to last year. Compared to three years ago, Ford's market share is now 1.57 pp lower.
Volvo sold 25.7 thousand new passenger cars representing a 2.03% share of all new passenger cars sold in Europe in June 2023. This is 69.2% more vehicles and a 0.605 pp increase in market share when compared to last year. Compared to three years ago, Volvo's market share is now 0.584 pp lower.
Nissan sold 26.8 thousand new passenger cars representing a 2.12% share of all new passenger cars sold in Europe in June 2023. This is 28.4% more vehicles and a 0.159 pp increase in market share when compared to last year. Compared to three years ago, Nissan's market share is now 0.021 pp lower.
Mazda sold 17.3 thousand new passenger cars representing a 1.37% share of all new passenger cars sold in Europe in June 2023. This is 82.1% more vehicles and a 0.476 pp increase in market share when compared to last year. Compared to three years ago, Mazda's market share is now 0.310 pp higher.
Mitsubishi sold 4.39 thousand new passenger cars representing a 0.347% share of all new passenger cars sold in Europe in June 2023. This is 10.9% fewer vehicles and a 0.115 pp decrease in market share when compared to last year. Compared to three years ago, Mitsubishi's market share is now 0.593 pp lower.
Honda sold 4.83 thousand new passenger cars representing a 0.381% share of all new passenger cars sold in Europe in June 2023. This is 6.16% fewer vehicles and a 0.101 pp decrease in market share when compared to last year. Compared to three years ago, Honda's market share is now 0.182 pp lower.
Tesla sold 47.6 thousand new passenger cars representing a 3.76% share of all new passenger cars sold in Europe in June 2023. This is 105% more vehicles and a 1.58 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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