EU: Passenger Car Market 2024

Passenger Car Market Size in the EU

In 2022, the EU passenger car market decreased by X% to $X, falling for the third consecutive year after four years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Passenger Car Production in the EU

In value terms, passenger car production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt shrinkage. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Passenger Car Exports

Exports in the EU

In 2022, exports of passenger cars in the European Union was estimated at X units, with an increase of X% compared with the previous year. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, passenger car exports expanded to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Germany represented the major exporter of passenger cars in the European Union, with the volume of exports amounting to X units, which was near X% of total exports in 2022. Spain (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (X%), the Czech Republic (X%), Slovakia (X%) and France (X%). Poland (X units), Sweden (X units), Romania (X units), Italy (X units), Hungary (X units), the Netherlands (X units) and Slovenia (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to passenger car exports from Germany stood at X%. At the same time, Sweden (X%), Slovenia (X%), Hungary (X%), Romania (X%), Slovakia (X%), the Czech Republic (X%) and Spain (X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. The Netherlands, Italy and Belgium experienced a relatively flat trend pattern. By contrast, Poland (X%) and France (X%) illustrated a downward trend over the same period. Spain (X p.p.), Slovakia (X p.p.), Sweden (X p.p.) and the Czech Republic (X p.p.) significantly strengthened its position in terms of the total exports, while France and Germany saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest passenger car supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by Belgium ($X), with an X% share of total exports. It was followed by Spain, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (X% per year) and Spain (X% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per unit, approximately equating the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. The level of export peaked at $X per unit in 2021, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced more modest paces of growth.

Passenger Car Imports

Imports in the EU

Passenger car imports reduced to X units in 2022, shrinking by X% on the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, passenger car imports expanded to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Germany (X units), distantly followed by France (X units), Belgium (X units), Italy (X units), Spain (X units) and the Netherlands (X units) represented the major importers of passenger cars, together constituting X% of total imports. Poland (X units), Sweden (X units), Austria (X units), Portugal (X units), Slovenia (X units), Denmark (X units) and the Czech Republic (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Italy, Spain, the Netherlands, Poland, Sweden, Austria, Denmark, the Czech Republic, Slovenia and Portugal lagged somewhat behind, together comprising a further X%.

Slovenia, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per unit), while Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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