Sales of new cars decreased by 136 thousand in May compared to last year. In the first five months of the year, the decline reached 12.9% yoy . The smallest decline was seen in Iceland (65.9%) while sales in Lithuania dropped the most (-33.1%). Volkswagen Group sold the most cars in May 2022 in Europe, some 240 thousand vehicles representing 25.3% of the European market.
In May 2022, EU passenger car registrations slipped back by 11.2% to 791,546 units, marking the tenth consecutive month of decline. All four key EU markets recorded double-digit losses. From January to May 2022, total registrations of new passenger cars in the EU were 13.7% lower compared to the same period last year.
In May, most vehicles (207 thousand) were sold in Germany (down 10.2% yoy), followed by France (127 thousand, down 10.1%), the United Kingdom with 124 thousand cars (down 20.6%), 121 thousand new vehicles were registered in Italy (down 15.0%) and 85.0 thousand in Spain (down 10.9%). The five largest countries accounted for 61.1% of total new vehicles registered in May 2022.
In relative terms, sales in Iceland (+65.9%) and Bulgaria (+35.2%) declined the least compared to a year ago, whereas registration in Lithuania and Austria dropped the most (-33.1% and -24.0% yoy), in May 2022, according to ACEA.
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.