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 . The smallest decline was seen in Portugal (42.4%) while sales in Norway dropped the most (-24.7%). Volkswagen Group sold the most cars in August 2022 in Europe, some 198 thousand vehicles representing 26.5% of the European market.
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.
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 relative terms, sales in Portugal (+42.4%) and Greece (+39.7%) declined the least compared to a year ago, whereas registration in Norway and Romania dropped the most (-24.7% and -22.3% yoy), in August 2022, according to ACEA.
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.