Sales of new cars increased by 24.2 thousand in August compared to last year
In the first eight months of the year, the decline reached 11.8% yoy
Portugal performed relatively the best (up 42.4% yoy) while sales in Norway showed the weakest change compared to the last year (down 24.7% yoy)
Sales of new passenger cars reached 749 thousand in August 2022 in the enlarged Europe (EU plus Iceland, Norway and Switzerland), according to ACEA. This is 3.33%, or 24.2 thousand more than in the previous year. In the first eight months of 2022, some 7,222 thousand cars were sold in Europe, down 11.8% yoy.
In August, the European new car market returned to growth and increased 4.4% yoy, bringing an end to thirteen months of consecutive decline. However – with 650,291 units registered – this result remains far below pre-pandemic levels.
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 August, most vehicles (199 thousand) were sold in Germany (up 3.04% yoy), followed by France (91.4 thousand, up 3.79%), Italy with 71.2 thousand cars (up 10.0%), 68.9 thousand new vehicles were registered in the United Kingdom (up 1.21%) and 51.9 thousand in Spain (up 9.08%). The five largest countries accounted for 57.5% of total new vehicles registered in August 2022.
In absolute terms, the best performance in sales of new cars has been seen in Italy (up 6.50 thousand cars) and Germany (up 5.88 thousand cars). At the other end of the scale, Norway and Romania showed the weakest change in registration of new cars in August when compared to last year (down 4.06 thousand and down 3.59 thousand cars, respectively).
In relative terms, sales in Portugal (+42.4%) and Greece (+39.7%) performed the best compared to a year ago, whereas registration in Norway and Romania the worst (-24.7% and -22.3% yoy), in August 2022, according to ACEA:
In the first eight months of the year, some 7,222 thousand cars were sold in Europe, down 11.8% yoy. The table below shows details of the sales for each of the European country:
| Country | August 2022 | August 2021 | YOY Change % | 1-8/2022 | 1-8/2021 | YOY Change % |
|---|---|---|---|---|---|---|
| Austria | 17.8 | 17.7 | 0.536 | 142 | 172 | -17.2 |
| Belgium | 28.9 | 27.0 | 7.00 | 250 | 287 | -12.7 |
| Bulgaria | 2.48 | 1.91 | 30.2 | 19.9 | 17.6 | 12.9 |
| Croatia | 3.20 | 2.82 | 13.7 | 31.2 | 34.4 | -9.24 |
| Cyprus | 0.644 | 0.587 | 9.71 | 7.89 | 7.52 | 4.80 |
| Czechia | 16.6 | 16.4 | 0.802 | 129 | 148 | -12.7 |
| Denmark | 12.8 | 15.8 | -19.5 | 96.1 | 126 | -23.6 |
| Estonia | 1.73 | 1.51 | 14.8 | 14.4 | 16.8 | -14.2 |
| Finland | 7.11 | 7.90 | -10.0 | 56.1 | 72.1 | -22.2 |
| France | 91.4 | 88.1 | 3.79 | 971 | 1,127 | -13.8 |
| Germany | 199 | 193 | 3.04 | 1,643 | 1,821 | -9.75 |
| Greece | 8.66 | 6.20 | 39.7 | 74.4 | 75.1 | -1.01 |
| Hungary | 9.99 | 9.64 | 3.56 | 76.4 | 85.0 | -10.2 |
| Iceland | 0.979 | 0.801 | 22.2 | 11.9 | 8.68 | 36.8 |
| Ireland | 8.14 | 6.01 | 35.5 | 95.2 | 96.5 | -1.28 |
| Italy | 71.2 | 64.7 | 10.0 | 865 | 1,059 | -18.3 |
| Latvia | 1.49 | 1.27 | 17.0 | 11.1 | 10.5 | 5.58 |
| Lithuania | 2.25 | 2.37 | -5.23 | 18.4 | 24.3 | -24.3 |
| Luxembourg | 2.97 | 2.79 | 6.30 | 28.5 | 32.1 | -11.1 |
| Netherlands | 23.6 | 21.9 | 8.05 | 200 | 213 | -5.95 |
| Norway | 12.4 | 16.4 | -24.7 | 88.1 | 111 | -20.5 |
| Poland | 33.8 | 33.2 | 1.61 | 281 | 315 | -10.9 |
| Portugal | 11.3 | 7.97 | 42.4 | 101 | 102 | -0.438 |
| Romania | 12.5 | 16.1 | -22.3 | 83.3 | 79.3 | 5.08 |
| Slovakia | 6.70 | 6.78 | -1.22 | 52.9 | 52.9 | -0.100 |
| Slovenia | 3.34 | 3.53 | -5.38 | 33.0 | 39.0 | -15.4 |
| Spain | 51.9 | 47.6 | 9.08 | 533 | 588 | -9.40 |
| Sweden | 20.6 | 19.8 | 3.88 | 183 | 210 | -12.9 |
| Switzerland | 16.4 | 16.5 | -0.438 | 142 | 160 | -11.7 |
| United Kingdom | 68.9 | 68.0 | 1.21 | 983 | 1,101 | -10.7 |
| EU + EFTA | 749 | 725 | 3.33 | 7,222 | 8,191 | -11.8 |
Volkswagen Group sold the most cars in August 2022 in Europe, some 198 thousand vehicles representing 26.5% of the European market. Sales of PSA Group amounted to 102 thousand vehicles (or 13.6% of the market) while Hyundai Group and Renault Group held 9.70% and 8.70% of the European market in August. Overall, the five largest manufacturers sold 65.9% of all new cars in August:
When compared to last year, Hyundai Motor Company has gained the most in terms of market share rising its market position by 1.89 bp, followed by Toyota Motor Corporation (up 0.723 bp) and Renault (up 0.618 bp). Volkswagen Group were on the other end of the market spectrum dropping 1.76 bp on the market alongside with PSA Peugeot Citroen (down 0.707 bp) and Fiat Chrysler Automobiles (-0.628 bp):
In terms of particular brands, Volkswagen stands out as the most favorite brand accounting for 757 thousand sold vehicles, or 10.5% of all new passenger cars sold on the European market in August 2022.
In terms of momentum, Kia gained the most in terms of market share in the first month of the year 2022 (up 1.11 bp) followed by Toyota and Hyundai. Volkswagen and Skoda were on the other end of the market spectrum losing -1.02 bp and -0.537 bp respectively:
Volkswagen Group sold 198 thousand new passenger cars representing a 26.5% share of all new passenger cars sold in Europe in August 2022. This is 3.47% more vehicles and a 0.034 pp increase in market share when compared to last year. Looking back three years, VW's market share was 27.0%.
The Group sold 90.4 thousand of Volkswagen brand cars in August, followed by 41.6 thousand of Audis and 40.8 thousand of Skodas. Seat sold 20.9 thousand vehicles and Porsche some 4.36 thousand cars in August 2022:
PSA Group sold 102 thousand new passenger cars representing a 13.6% share of all new passenger cars sold in Europe in August 2022. This is 19.7% more vehicles and a 1.86 pp increase in market share when compared to last year. By comparison, the market share three years ago stood at 14.2% and is down by 0.549 pp now.
The Group sold 40.2 thousand of Peugeots cars, followed by 31.0 thousand of Opels and 27.9 thousand of Citroens in August 2022:
BMW Group sold 53.9 thousand new passenger cars representing a 7.20% share of all new passenger cars sold in Europe in August 2022. This is 3.43% more vehicles and a 0.007 pp increase in market share when compared to last year. Compared to three years ago, BMW Group's market share is now 1.71 pp higher.
The group sold 43.0 thousand of BMW brand cars, followed by 11.0 thousand of Minis in August 2022:
Hyundai Group sold 72.6 thousand new passenger cars representing a 9.69% share of all new passenger cars sold in Europe in August 2022. This is 0.678% fewer vehicles and a 0.391 pp decrease in market share when compared to last year. Compared to three years ago, Hyundai Group's market share is now 2.69 pp higher.
The group sold 34.1 thousand of Kia brand cars, followed by of s in August 2022:
Renault Group sold 65.1 thousand new passenger cars representing a 8.69% share of all new passenger cars sold in Europe in August 2022. This is 5.13% fewer vehicles and a 0.776 pp decrease in market share when compared to last year. By comparison, three years ago, Renault Group's market share was 10.6%.
The group sold 36.5 thousand of Dacia brand cars in August, followed by 28.4 thousand of Renaults and 0.024 thousand of Ladas:
FCA Group sold 34.8 thousand new passenger cars representing a 4.65% share of all new passenger cars sold in Europe in August 2022. This is 7.67% fewer vehicles and a 0.555 pp decrease in market share when compared to last year. By comparison, three years ago FCA Group's market share stood at 5.14%.
The group sold 25.2 thousand of Fiat brand cars in August, followed by 4.14 thousand of Jeeps and 2.25 thousand of Alfa-Romeos:
Toyota Group sold 55.6 thousand new passenger cars representing a 7.43% share of all new passenger cars sold in Europe in August 2022. This is 4.75% more vehicles and a 0.100 pp increase in market share when compared to last year. Toyota Group's market share three years ago, by comparison, stood at 5.03%.
The group sold 53.5 thousand of Toyota brand cars in August, with Lexus following at 2.11 thousand cars:
Jaguar Land Rover Group sold 6.64 thousand new passenger cars representing a 0.887% share of all new passenger cars sold in Europe in August 2022. This is 8.35% more vehicles and a 0.041 pp increase in market share when compared to last year. Three years ago however, the market share of Jaguar Land Rover Group was 1.02%.
The group sold 5.17 thousand of Land Rovers in August, followed by 1.48 thousand of Jaguars:
Mercedes-Benz sold 43.3 thousand new passenger cars representing a 5.78% share of all new passenger cars sold in Europe in August 2022. This is 16.0% more vehicles and a 0.630 pp increase in market share when compared to last year. By comparison, three years ago, Mercedes-Benz's market share was 7.02%.
The group sold 42.9 thousand of Mercedes in August, followed by 0.404 thousand of Smart cars:
Ford sold 35.7 thousand new passenger cars representing a 4.77% share of all new passenger cars sold in Europe in August 2022. This is 11.2% more vehicles and a 0.336 pp increase in market share when compared to last year. Compared to three years ago, Ford's market share is now 1.07 pp lower.
Volvo sold 10.7 thousand new passenger cars representing a 1.42% share of all new passenger cars sold in Europe in August 2022. This is 13.2% fewer vehicles and a 0.272 pp decrease in market share when compared to last year. Compared to three years ago, Volvo's market share is now 0.162 pp lower.
Nissan sold 12.4 thousand new passenger cars representing a 1.66% share of all new passenger cars sold in Europe in August 2022. This is 0.313% fewer vehicles and a 0.061 pp decrease in market share when compared to last year. Compared to three years ago, Nissan's market share is now 0.553 pp lower.
Mazda sold 9.83 thousand new passenger cars representing a 1.31% share of all new passenger cars sold in Europe in August 2022. This is 17.5% fewer vehicles and a 0.331 pp decrease in market share when compared to last year. Compared to three years ago, Mazda's market share is now 0.083 pp lower.
Mitsubishi sold 3.40 thousand new passenger cars representing a 0.454% share of all new passenger cars sold in Europe in August 2022. This is 38.6% fewer vehicles and a 0.309 pp decrease in market share when compared to last year. Compared to three years ago, Mitsubishi's market share is now 0.746 pp lower.
Honda sold 3.62 thousand new passenger cars representing a 0.483% share of all new passenger cars sold in Europe in August 2022. This is 41.1% fewer vehicles and a 0.364 pp decrease in market share when compared to last year. Compared to three years ago, Honda's market share is now 0.319 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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