2023 (Q1-Q3): New passenger vehicle registrations in Europe (EU, UK, EFTA countries) expanded by 17% with car sales highest in Germany, the UK, France, and Italy.
The European new car market (EU, UK, EFTA) expanded by a further 17% during the first three quarters of 2023 but total new passenger vehicle registrations are still a good 20% below levels recorded during the first nine months of 2019. All major countries registered double-digit growth thus far in 2023 with car sales lower in only Hungary and Norway. Germany remained by far the largest car market in Europe followed by the UK, France, Italy, and Spain. The Volkswagen Group remained the top carmaker in Europe with Volkswagen the best-selling car brand in Europe during the first three quarters of 2023.
European New Car Market in 2023 (Q3)
New passenger vehicle registrations in the European market (European Union, United Kingdom, and EFTA countries) increased by 17% during the first nine months of 2023 according to the ACEA. During the first three quarters of 2023, a total of 9,684,894 cars were registered in Europe compared to 8,277,642 during the same period in 2022.
All countries registered growth with the exception of Hungary and Norway.
Battery electric car sales in Europe thus far in 2023 increased by 46.9% to 1,472,457 cars compared to 1,002,509 BEVs in 2022 (Q1-3).
Car Sales in the European Union in 2023(Q3)
In the European Union (EU), the new passenger car market expanded by 16.9% to 7,940,749 vehicles in 2023 compared to 6,790,789 sold during the first three quarters of 2022. However, the EU new car market is still 20% below the pre-pandemic level of 10 million vehicles in 2019 (Q1-3).
Except for Hungary (-3.2%), all European Union countries recorded gains in car sales during the first nine months of 2023, including the four largest: Italy (+20.5%), Spain (+18.5%), France (+15.9%), and Germany (+14.5%). There is, however, considerable uncertainty in the market for the rest of the year with the German market especially showing signs of cooling down.
Car Sales in Europe by EU, UK, and EFTA Country in 2023 (Q3)
New passenger vehicle registrations in Europe (EU, UK, and EFTA) were as follows per country during the first nine months of 2023:
|EU + EFTA + UK||9,684,894||8,277,642||17.0|