Sales of new passenger cars reached 948 thousand in May 2022 in the enlarged Europe, 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.
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):