Sales of new cars decreased by 136 thousand in May compared to last year
In the first five months of the year, the decline reached 12.9% yoy
Iceland performed relatively the best (up 65.9% yoy) while sales in Lithuania showed the weakest change compared to the last year (down 33.1% yoy)
Sales of new passenger cars reached 948 thousand in May 2022 in the enlarged Europe (EU plus Iceland, Norway and Switzerland), according to ACEA. This is 12.5%, or 136 thousand less than in the previous year. In the first five months of 2022, some 4,532 thousand cars were sold in Europe, down 12.9% yoy.
In May 2022, EU passenger car registrations slipped back by 11.2% to 791,546 units, marking the tenth consecutive month of decline. All four key EU markets recorded double-digit losses. From January to May 2022, total registrations of new passenger cars in the EU were 13.7% lower compared to the same period last year.
Historically, between 1990 and 2022, 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 May, most vehicles (207 thousand) were sold in Germany (down 10.2% yoy), followed by France (127 thousand, down 10.1%), the United Kingdom with 124 thousand cars (down 20.6%), 121 thousand new vehicles were registered in Italy (down 15.0%) and 85.0 thousand in Spain (down 10.9%). The five largest countries accounted for 61.1% of total new vehicles registered in May 2022.
In absolute terms, the best performance in sales of new cars has been seen in Sweden (up 2.09 thousand cars) and Romania (up 1.98 thousand cars). At the other end of the scale, the United Kingdom and Germany showed the weakest change in registration of new cars in May when compared to last year (down 32.3 thousand and down 23.4 thousand cars, respectively).
In relative terms, sales in Iceland (+65.9%) and Bulgaria (+35.2%) performed the best compared to a year ago, whereas registration in Lithuania and Austria the worst (-33.1% and -24.0% yoy), in May 2022, according to ACEA:
In the first five months of the year, some 4,532 thousand cars were sold in Europe, down 12.9% yoy. The table below shows details of the sales for each of the European country:
| Country | May 2022 | May 2021 | YOY Change % | 1-5/2022 | 1-5/2021 | YOY Change % |
|---|---|---|---|---|---|---|
| Austria | 17.1 | 22.5 | -24.0 | 85.8 | 108 | -20.7 |
| Belgium | 29.0 | 34.8 | -16.7 | 161 | 191 | -16.0 |
| Bulgaria | 2.69 | 1.99 | 35.2 | 11.7 | 9.97 | 17.5 |
| Croatia | 4.06 | 4.47 | -9.22 | 17.9 | 19.1 | -5.95 |
| Cyprus | 1.30 | 1.03 | 26.8 | 5.11 | 4.65 | 9.85 |
| Czechia | 18.1 | 21.7 | -16.8 | 80.2 | 90.2 | -11.2 |
| Denmark | 13.5 | 16.8 | -19.8 | 58.7 | 76.3 | -23.0 |
| Estonia | 2.17 | 2.21 | -1.45 | 9.14 | 10.3 | -11.5 |
| Finland | 7.94 | 9.96 | -20.3 | 36.1 | 46.8 | -22.8 |
| France | 127 | 141 | -10.1 | 601 | 723 | -16.9 |
| Germany | 207 | 231 | -10.2 | 1,013 | 1,117 | -9.25 |
| Greece | 12.0 | 10.9 | 10.5 | 43.8 | 44.5 | -1.63 |
| Hungary | 10.1 | 10.7 | -5.18 | 47.9 | 53.4 | -10.3 |
| Iceland | 2.22 | 1.34 | 65.9 | 6.78 | 4.30 | 57.8 |
| Ireland | 5.29 | 5.92 | -10.7 | 63.1 | 61.3 | 2.98 |
| Italy | 121 | 143 | -15.0 | 557 | 734 | -24.2 |
| Latvia | 1.61 | 1.38 | 17.1 | 6.59 | 6.22 | 5.97 |
| Lithuania | 2.63 | 3.93 | -33.1 | 11.5 | 15.2 | -24.3 |
| Luxembourg | 3.53 | 4.03 | -12.4 | 18.2 | 20.8 | -12.5 |
| Netherlands | 23.5 | 25.6 | -8.18 | 124 | 131 | -4.81 |
| Norway | 11.5 | 14.1 | -18.0 | 53.6 | 63.5 | -15.6 |
| Poland | 35.9 | 41.4 | -13.3 | 173 | 199 | -13.3 |
| Portugal | 12.7 | 16.7 | -23.5 | 59.9 | 62.5 | -4.11 |
| Romania | 10.2 | 8.22 | 24.0 | 47.6 | 35.8 | 32.9 |
| Slovakia | 6.65 | 8.04 | -17.3 | 31.9 | 30.2 | 5.63 |
| Slovenia | 4.78 | 5.26 | -9.07 | 21.5 | 25.8 | -17.0 |
| Spain | 85.0 | 95.4 | -10.9 | 318 | 360 | -11.5 |
| Sweden | 26.4 | 24.3 | 8.57 | 118 | 137 | -13.8 |
| Switzerland | 18.5 | 20.0 | -7.71 | 88.3 | 98.5 | -10.4 |
| United Kingdom | 124 | 157 | -20.6 | 661 | 724 | -8.67 |
| EU + EFTA | 948 | 1,084 | -12.5 | 4,532 | 5,205 | -12.9 |
Volkswagen Group sold the most cars in May 2022 in Europe, some 240 thousand vehicles representing 25.3% of the European market. Sales of PSA Group amounted to 133 thousand vehicles (or 14.1% of the market) while Hyundai Group and Renault Group held 10.2% and 8.60% of the European market in May. Overall, the five largest manufacturers sold 65.4% of all new cars in May:
When compared to last year, Hyundai Motor Company has gained the most in terms of market share rising its market position by 2.57 bp, followed by Toyota Motor Corporation (up 0.954 bp) and Renault (up 0.363 bp). Volkswagen Group were on the other end of the market spectrum dropping 1.93 bp on the market alongside with PSA Peugeot Citroen (down 1.59 bp) and Fiat Chrysler Automobiles (-0.703 bp):
In terms of particular brands, Volkswagen stands out as the most favorite brand accounting for 451 thousand sold vehicles, or 9.96% of all new passenger cars sold on the European market in May 2022.
In terms of momentum, Kia gained the most in terms of market share in the first month of the year 2022 (up 1.48 bp) followed by Hyundai and Toyota. Volkswagen and Peugeot were on the other end of the market spectrum losing -1.20 bp and -0.899 bp respectively:
Volkswagen Group sold 240 thousand new passenger cars representing a 25.3% share of all new passenger cars sold in Europe in May 2022. This is 21.0% fewer vehicles and a 2.73 pp decrease in market share when compared to last year. Looking back three years, VW's market share was 24.2%.
The Group sold 102 thousand of Volkswagen brand cars in May, followed by 50.7 thousand of Audis and 42.3 thousand of Skodas. Seat sold 37.0 thousand vehicles and Porsche some 6.78 thousand cars in May 2022:
PSA Group sold 133 thousand new passenger cars representing a 14.1% share of all new passenger cars sold in Europe in May 2022. This is 14.1% fewer vehicles and a 0.255 pp decrease in market share when compared to last year. By comparison, the market share three years ago stood at 16.4% and is down by 2.34 pp now.
The Group sold 55.9 thousand of Peugeots cars, followed by 40.6 thousand of Opels and 32.8 thousand of Citroens in May 2022:
BMW Group sold 67.7 thousand new passenger cars representing a 7.14% share of all new passenger cars sold in Europe in May 2022. This is 13.2% fewer vehicles and a 0.056 pp decrease in market share when compared to last year. Compared to three years ago, BMW Group's market share is now 0.766 pp higher.
The group sold 53.9 thousand of BMW brand cars, followed by 13.8 thousand of Minis in May 2022:
Hyundai Group sold 96.6 thousand new passenger cars representing a 10.2% share of all new passenger cars sold in Europe in May 2022. This is 9.51% more vehicles and a 2.05 pp increase in market share when compared to last year. Compared to three years ago, Hyundai Group's market share is now 3.84 pp higher.
The group sold 48.7 thousand of Kia brand cars, followed by of s in May 2022:
Renault Group sold 81.3 thousand new passenger cars representing a 8.58% share of all new passenger cars sold in Europe in May 2022. This is 9.67% fewer vehicles and a 0.270 pp increase in market share when compared to last year. By comparison, three years ago, Renault Group's market share was 10.6%.
The group sold 48.0 thousand of Renault brand cars in May, followed by 32.9 thousand of Dacias and 0.075 thousand of Ladas:
FCA Group sold 58.0 thousand new passenger cars representing a 6.12% share of all new passenger cars sold in Europe in May 2022. This is 15.9% fewer vehicles and a 0.250 pp decrease in market share when compared to last year. By comparison, three years ago FCA Group's market share stood at 7.06%.
The group sold 40.6 thousand of Fiat brand cars in May, followed by 10.4 thousand of Jeeps and 2.42 thousand of Alfa-Romeos:
Toyota Group sold 68.0 thousand new passenger cars representing a 7.17% share of all new passenger cars sold in Europe in May 2022. This is 1.25% more vehicles and a 0.975 pp increase in market share when compared to last year. Toyota Group's market share three years ago, by comparison, stood at 5.11%.
The group sold 65.1 thousand of Toyota brand cars in May, with Lexus following at 2.83 thousand cars:
Jaguar Land Rover Group sold 9.68 thousand new passenger cars representing a 1.02% share of all new passenger cars sold in Europe in May 2022. This is 36.6% fewer vehicles and a 0.388 pp decrease in market share when compared to last year. Three years ago however, the market share of Jaguar Land Rover Group was 1.28%.
The group sold 7.50 thousand of Land Rovers in May, followed by 2.18 thousand of Jaguars:
Mercedes-Benz sold 54.5 thousand new passenger cars representing a 5.75% share of all new passenger cars sold in Europe in May 2022. This is 6.34% fewer vehicles and a 0.379 pp increase in market share when compared to last year. By comparison, three years ago, Mercedes-Benz's market share was 6.27%.
The group sold 52.4 thousand of Mercedes in May, followed by 2.17 thousand of Smart cars:
Ford sold 46.2 thousand new passenger cars representing a 4.87% share of all new passenger cars sold in Europe in May 2022. This is 6.18% fewer vehicles and a 0.329 pp increase in market share when compared to last year. Compared to three years ago, Ford's market share is now 1.21 pp lower.
Volvo sold 19.1 thousand new passenger cars representing a 2.02% share of all new passenger cars sold in Europe in May 2022. This is 23.2% fewer vehicles and a 0.282 pp decrease in market share when compared to last year. Compared to three years ago, Volvo's market share is now 0.058 pp lower.
Nissan sold 18.9 thousand new passenger cars representing a 2.00% share of all new passenger cars sold in Europe in May 2022. This is 3.85% more vehicles and a 0.314 pp increase in market share when compared to last year. Compared to three years ago, Nissan's market share is now 0.285 pp lower.
Mazda sold 8.74 thousand new passenger cars representing a 0.921% share of all new passenger cars sold in Europe in May 2022. This is 42.4% fewer vehicles and a 0.477 pp decrease in market share when compared to last year. Compared to three years ago, Mazda's market share is now 0.457 pp lower.
Mitsubishi sold 5.25 thousand new passenger cars representing a 0.554% share of all new passenger cars sold in Europe in May 2022. This is 20.2% fewer vehicles and a 0.053 pp decrease in market share when compared to last year. Compared to three years ago, Mitsubishi's market share is now 0.368 pp lower.
Honda sold 6.28 thousand new passenger cars representing a 0.663% share of all new passenger cars sold in Europe in May 2022. This is 3.56% fewer vehicles and a 0.062 pp increase in market share when compared to last year. Compared to three years ago, Honda's market share is now 0.022 pp higher.
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 84.7%, followed by Cyprus and Slovenia. In terms of diesel-fuelled vehicles, Ireland ranked the highest with 33.5% followed by Croatia and Luxembourg:
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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