Sales of new cars increased by 23.0 thousand in October compared to last year. In the first ten months of the year, the decline reached 8.72% yoy . The smallest decline was seen in Latvia (61.3%) while sales in Slovenia dropped the most (-18.7%). Volkswagen Group sold the most cars in October 2022 in Europe, some 232 thousand vehicles representing 28.2% of the European market.
In October 2022, sales of new passenger cars in the EU continued their upward trend with 745,855 units sold. However, this result remained nearly 290,000 units below the October 2019 pre-pandemic levels. Ten months into 2022, EU new car registrations remained in negative territory, as recent improvements were not enough to offset losses cumulated from January to July this year.
In October, most vehicles (209 thousand) were sold in Germany (up 16.8% yoy), followed by the United Kingdom (134 thousand, up 26.4%), France with 125 thousand cars (up 5.45%), 116 thousand new vehicles were registered in Italy (up 14.7%) and 66.0 thousand in Spain (up 11.7%). The five largest countries accounted for 71.0% of total new vehicles registered in October 2022.
In relative terms, sales in Latvia (+61.3%) and Bulgaria (+32.3%) declined the least compared to a year ago, whereas registration in Slovenia and Denmark dropped the most (-18.7% and -14.3% yoy), in October 2022, according to ACEA.
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.