Sales of new passenger cars reached 822 thousand in October 2022 in the enlarged Europe, according to ACEA. This is 2.88%, or 23.0 thousand more than in the previous year. In the first ten months of 2022, some 9,094 thousand cars were sold in Europe, down 8.72% yoy.
Volkswagen Group sold the most cars in October 2022 in Europe, some 232 thousand vehicles representing 28.2% of the European market. Sales of PSA Group amounted to 117 thousand vehicles (or 14.2% of the market) while Renault Group and Hyundai Group held 10.1% and 10.0% of the European market in October. Overall, the five largest manufacturers sold 70.8% of all new cars in October.
When compared to last year, Hyundai Motor Company has gained the most in terms of market share rising its market position by 1.33 bp, followed by Toyota Motor Corporation (up 0.806 bp) and Renault (up 0.421 bp). PSA Peugeot Citroen were on the other end of the market spectrum dropping 0.758 bp on the market alongside with Fiat Chrysler Automobiles (down 0.629 bp) and Volkswagen Group (-0.585 bp):