Passenger car registrations: -4.6% in 2022; +12.8% in December
Brussels, 18 January 2023 – In December 2022, new car registrations in the EU expanded by 12.8%, marking the fifth consecutive month of growth this year.
In December 2022, new car registrations in the EU expanded by 12.8%, marking the fifth consecutive month of growth this year. Despite this positive result, only two of the region’s four major markets recorded growth. The German and Italian car markets had an extremely strong end to 2022, posting double-digit increases of 38.1% and 21.0% respectively. Spain, on the other hand, suffered a substantial decline (-14.1%), whereas France remained stable (-0.1%).
Overall in 2022, the European Union passenger car market contracted by 4.6%, mainly due to the impact of component shortages in the first half of the year. Although the market improved from August to December 2022, cumulative volumes stand at 9.3 million units, the region’s lowest level since 1993, when 9.2 million units were registered. Among the EU’s four largest markets, only Germany managed to post growth in 2022 (+1.1%), helped by the strong result in December. The other three markets all performed worse than in 2021, with Italy posting the steepest decline (-9.7%), followed by France (-7.8%) and Spain (-5.4%).
Overall in 2022, the European Union passenger car market contracted by 4.6%, mainly due to the impact of component shortages in the first half of the year.
- The European Automobile Manufacturers’ Association (ACEA) represents the 14 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, Jaguar Land Rover, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, and Volvo Group.
- Visit www.acea.auto for more information about ACEA, and follow us on www.twitter.com/ACEA_auto or www.linkedin.com/company/ACEA/.
- Contact: Francesca Piazza, Senior Statistics Manager, email@example.com.
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About the EU automobile industry
- 13.0 million Europeans work in the automotive sector
- 11.5% of all manufacturing jobs in the EU
- €374.6 billion in tax revenue for European governments
- €79.5 billion trade surplus for the European Union
- Almost 8% of EU GDP generated by the auto industry
- €58.8 billion in R&D spending annually, 32% of EU total