Sales of new cars increased by 156 thousand in August compared to last year. In the first eight months of the year, the growth reached 17.9% yoy . The smallest decline was seen in Bulgaria (37.9%) while sales in Hungary dropped the most (-10.4%). Volkswagen Group sold the most cars in August 2023 in Europe, some 240 thousand vehicles representing 26.6% of the European market.
In August 2023, the EU car market expanded by 21%, reaching 787,626 registered units, marking the thirteenth consecutive month of growth. So far this year, new EU car registrations grew 17.9% totalling 7.1mil units, still almost 2 mil short when compared to the pre-COVID-pandemic level in 2019. More than 20% of new cars sold were battery-electric in August (up from 12% last year), while hybrid-electric cars held a 24% market share.
In August, most vehicles (273 thousand) were sold in Germany (up 37.3% yoy), followed by France (114 thousand, up 24.3%), the United Kingdom with 85.7 thousand cars (up 24.4%), 79.7 thousand new vehicles were registered in Italy (up 12.0%) and 56.0 thousand in Spain (up 7.80%). The five largest countries accounted for 61.1% of total new vehicles registered in August 2023.
In relative terms, sales in Bulgaria (+37.9%) and Germany (+37.3%) declined the least compared to a year ago, whereas registration in Hungary and Norway dropped the most (-10.4% and -10.4% yoy), in August 2023, according to ACEA.
Volkswagen Group sold the most cars in August 2023 in Europe, some 240 thousand vehicles representing 26.6% of the European market. Sales of Stellantis amounted to 145 thousand vehicles (or 16.1% of the market) while Renault Group and Hyundai Group held 8.80% and 8.50% of the European market in August. Overall, the five largest manufacturers sold 67.1% of all new cars in August.