Sales of new cars increased by 151 thousand in November compared to last year
In the first eleven months of the year, the decline reached 5.81% yoy
Latvia performed relatively the best (up 73.6% yoy) while sales in Ireland showed the weakest change compared to the last year (down 12.5% yoy)
Sales of new passenger cars reached 1,015 thousand in November 2022 in the enlarged Europe (EU plus Iceland, Norway and Switzerland), according to ACEA. This is 17.4%, or 151 thousand more than in the previous year. In the first eleven months of 2022, some 10,197 thousand cars were sold in Europe, down 5.81% yoy.
In November 2022, sales of new cars posted another strong uplift with a 16.3% yoy growth, the fourth in a row this year as 829,527 cars have been sold in the EU. Still, this remains well below the pre-pandemic levels of November 2019, when 1 million cars were registered. In the first 11 months of 2022, sales of new cars across the EU were down 6.1% yoy.
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 November, most vehicles (261 thousand) were sold in Germany (up 31.4% yoy), followed by the United Kingdom (143 thousand, up 23.5%), France with 134 thousand cars (up 9.81%), 120 thousand new vehicles were registered in Italy (up 14.7%) and 73.2 thousand in Spain (up 10.3%). The five largest countries accounted for 64.8% of total new vehicles registered in November 2022.
In absolute terms, the best performance in sales of new cars has been seen in Germany (up 62.3 thousand cars) and the United Kingdom (up 27.2 thousand cars). At the other end of the scale, Denmark and Slovenia showed the weakest change in registration of new cars in November when compared to last year (down 1.83 thousand and down 0.503 thousand cars, respectively).
In relative terms, sales in Latvia (+73.6%) and Portugal (+39.4%) performed the best compared to a year ago, whereas registration in Ireland and Denmark the worst (-12.5% and -12.2% yoy), in November 2022, according to ACEA:
In the first eleven months of the year, some 10,197 thousand cars were sold in Europe, down 5.81% yoy. The table below shows details of the sales for each of the European country:
| Country | November 2022 | November 2021 | YOY Change % | 1-11/2022 | 1-11/2021 | YOY Change % |
|---|---|---|---|---|---|---|
| Austria | 18.2 | 17.5 | 3.76 | 197 | 222 | -11.1 |
| Belgium | 29.8 | 24.1 | 23.4 | 342 | 363 | -5.79 |
| Bulgaria | 2.32 | 1.92 | 20.9 | 26.7 | 22.8 | 17.2 |
| Croatia | 2.66 | 2.52 | 5.63 | 40.3 | 42.5 | -5.19 |
| Cyprus | 0.956 | 0.727 | 31.5 | 10.9 | 10.1 | 7.62 |
| Czechia | 17.4 | 16.2 | 7.63 | 178 | 191 | -6.89 |
| Denmark | 13.1 | 15.0 | -12.2 | 133 | 168 | -20.6 |
| Estonia | 1.43 | 1.44 | -0.902 | 19.3 | 21.3 | -9.53 |
| Finland | 6.39 | 6.68 | -4.27 | 75.5 | 91.9 | -17.9 |
| France | 134 | 122 | 9.81 | 1,371 | 1,501 | -8.65 |
| Germany | 261 | 198 | 31.4 | 2,337 | 2,395 | -2.40 |
| Greece | 8.07 | 7.17 | 12.6 | 98.9 | 95.3 | 3.69 |
| Hungary | 9.50 | 9.50 | 0.053 | 104 | 113 | -8.48 |
| Iceland | 1.30 | 0.968 | 33.8 | 15.2 | 11.6 | 30.7 |
| Ireland | 0.982 | 1.12 | -12.5 | 105 | 105 | 0.460 |
| Italy | 120 | 104 | 14.7 | 1,211 | 1,370 | -11.6 |
| Latvia | 1.48 | 0.853 | 73.6 | 15.5 | 13.3 | 16.4 |
| Lithuania | 1.77 | 1.76 | 0.568 | 24.1 | 29.6 | -18.7 |
| Luxembourg | 3.44 | 3.18 | 8.12 | 39.0 | 41.1 | -5.27 |
| Netherlands | 27.8 | 27.3 | 1.75 | 283 | 289 | -2.18 |
| Norway | 19.5 | 15.3 | 27.8 | 135 | 156 | -13.4 |
| Poland | 34.2 | 32.0 | 7.03 | 383 | 411 | -6.95 |
| Portugal | 15.2 | 10.9 | 39.4 | 142 | 134 | 5.61 |
| Romania | 11.1 | 11.5 | -3.54 | 117 | 109 | 6.90 |
| Slovakia | 6.98 | 5.70 | 22.3 | 72.6 | 70.2 | 3.45 |
| Slovenia | 3.62 | 4.13 | -12.2 | 43.8 | 51.4 | -14.8 |
| Spain | 73.2 | 66.4 | 10.3 | 739 | 773 | -4.39 |
| Sweden | 25.6 | 21.1 | 21.5 | 253 | 273 | -7.60 |
| Switzerland | 21.4 | 18.8 | 13.7 | 201 | 214 | -5.96 |
| United Kingdom | 143 | 116 | 23.5 | 1,486 | 1,539 | -3.44 |
| EU + EFTA | 1,015 | 864 | 17.4 | 10,197 | 10,826 | -5.81 |
Volkswagen Group sold the most cars in November 2022 in Europe, some 254 thousand vehicles representing 25.1% of the European market. Sales of PSA Group amounted to 116 thousand vehicles (or 11.4% of the market) while Renault Group and Hyundai Group held 9.50% and 8.20% of the European market in November. Overall, the five largest manufacturers sold 61.8% of all new cars in November:
When compared to last year, Hyundai Motor Company has gained the most in terms of market share rising its market position by 0.966 bp, followed by Toyota Motor Corporation (up 0.760 bp) and Renault (up 0.212 bp). PSA Peugeot Citroen were on the other end of the market spectrum dropping 1.10 bp on the market alongside with Fiat Chrysler Automobiles (down 0.679 bp) and Volkswagen Group (-0.468 bp):
In terms of particular brands, Volkswagen stands out as the most favorite brand accounting for 1,079 thousand sold vehicles, or 10.6% of all new passenger cars sold on the European market in November 2022.
In terms of momentum, Toyota gained the most in terms of market share in the first month of the year 2022 (up 0.834 bp) followed by Kia and Audi. Peugeot and Citroen were on the other end of the market spectrum losing -0.500 bp and -0.391 bp respectively:
Volkswagen Group sold 254 thousand new passenger cars representing a 25.1% share of all new passenger cars sold in Europe in November 2022. This is 36.9% more vehicles and a 3.57 pp increase in market share when compared to last year. Looking back three years, VW's market share was 25.1%.
The Group sold 113 thousand of Volkswagen brand cars in November, followed by 60.3 thousand of Audis and 45.3 thousand of Skodas. Seat sold 27.3 thousand vehicles and Porsche some 8.58 thousand cars in November 2022:
PSA Group sold 116 thousand new passenger cars representing a 11.4% share of all new passenger cars sold in Europe in November 2022. This is 6.99% fewer vehicles and a 2.99 pp decrease in market share when compared to last year. By comparison, the market share three years ago stood at 14.3% and is down by 2.90 pp now.
The Group sold 49.7 thousand of Peugeots cars, followed by 32.6 thousand of Opels and 29.0 thousand of Citroens in November 2022:
BMW Group sold 77.6 thousand new passenger cars representing a 7.65% share of all new passenger cars sold in Europe in November 2022. This is 15.6% more vehicles and a 0.119 pp decrease in market share when compared to last year. Compared to three years ago, BMW Group's market share is now 0.541 pp higher.
The group sold 59.9 thousand of BMW brand cars, followed by 17.7 thousand of Minis in November 2022:
Hyundai Group sold 83.7 thousand new passenger cars representing a 8.25% share of all new passenger cars sold in Europe in November 2022. This is 2.56% fewer vehicles and a 1.69 pp decrease in market share when compared to last year. Compared to three years ago, Hyundai Group's market share is now 1.48 pp higher.
The group sold 42.8 thousand of Hyundai brand cars, followed by 40.9 thousand of Kias in November 2022:
Renault Group sold 96.0 thousand new passenger cars representing a 9.46% share of all new passenger cars sold in Europe in November 2022. This is 4.24% more vehicles and a 1.20 pp decrease in market share when compared to last year. By comparison, three years ago, Renault Group's market share was 10.0%.
The group sold 51.9 thousand of Renault brand cars in November, followed by 43.8 thousand of Dacias and 0.027 thousand of Ladas:
FCA Group sold 49.5 thousand new passenger cars representing a 4.88% share of all new passenger cars sold in Europe in November 2022. This is 4.55% more vehicles and a 0.601 pp decrease in market share when compared to last year. By comparison, three years ago FCA Group's market share stood at 5.48%.
The group sold 32.9 thousand of Fiat brand cars in November, followed by 8.72 thousand of Jeeps and 3.50 thousand of Alfa-Romeos:
Toyota Group sold 74.6 thousand new passenger cars representing a 7.35% share of all new passenger cars sold in Europe in November 2022. This is 36.1% more vehicles and a 1.01 pp increase in market share when compared to last year. Toyota Group's market share three years ago, by comparison, stood at 5.07%.
The group sold 70.6 thousand of Toyota brand cars in November, with Lexus following at 4.02 thousand cars:
Jaguar Land Rover Group sold 9.28 thousand new passenger cars representing a 0.914% share of all new passenger cars sold in Europe in November 2022. This is 10.2% more vehicles and a 0.060 pp decrease in market share when compared to last year. Three years ago however, the market share of Jaguar Land Rover Group was 1.31%.
The group sold 7.72 thousand of Land Rovers in November, followed by 1.55 thousand of Jaguars:
Mercedes-Benz sold 57.6 thousand new passenger cars representing a 5.68% share of all new passenger cars sold in Europe in November 2022. This is 2.05% more vehicles and a 0.856 pp decrease in market share when compared to last year. By comparison, three years ago, Mercedes-Benz's market share was 7.37%.
The group sold 55.3 thousand of Mercedes in November, followed by 2.35 thousand of Smart cars:
Ford sold 45.5 thousand new passenger cars representing a 4.49% share of all new passenger cars sold in Europe in November 2022. This is 46.1% more vehicles and a 0.881 pp increase in market share when compared to last year. Compared to three years ago, Ford's market share is now 1.83 pp lower.
Volvo sold 25.9 thousand new passenger cars representing a 2.55% share of all new passenger cars sold in Europe in November 2022. This is 18.0% more vehicles and a 0.012 pp increase in market share when compared to last year. Compared to three years ago, Volvo's market share is now 0.175 pp higher.
Nissan sold 22.1 thousand new passenger cars representing a 2.18% share of all new passenger cars sold in Europe in November 2022. This is 17.8% more vehicles and a 0.007 pp increase in market share when compared to last year. Compared to three years ago, Nissan's market share is now 0.004 pp higher.
Mazda sold 12.2 thousand new passenger cars representing a 1.20% share of all new passenger cars sold in Europe in November 2022. This is 19.1% more vehicles and a 0.017 pp increase in market share when compared to last year. Compared to three years ago, Mazda's market share is now 0.762 pp lower.
Mitsubishi sold 4.01 thousand new passenger cars representing a 0.395% share of all new passenger cars sold in Europe in November 2022. This is 32.5% fewer vehicles and a 0.292 pp decrease in market share when compared to last year. Compared to three years ago, Mitsubishi's market share is now 0.474 pp lower.
Honda sold 5.22 thousand new passenger cars representing a 0.514% share of all new passenger cars sold in Europe in November 2022. This is 15.7% more vehicles and a 0.008 pp decrease in market share when compared to last year. Compared to three years ago, Honda's market share is now 0.146 pp lower.
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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