Economic and Market Report: Global and EU auto industry – Full year 2023

ACEA’s Economic and Market Report provides data on car sales, production, and trade in Europe and globally.


  • Global new car sales grew by almost 10% after remaining stable in 2022
  • EU new car sales surged by almost 14%, totalling 10.5 million units
  • New battery-electric car sales grew by 37%, reaching a market share of 14.6%
  • Although China’s car market stalled in the first three quarters of 2023, full-year sales grew by 4.5%
  • Japanese and US car sales experienced robust growth, increasing by almost 16% and over 14%, respectively


  • Global car production hit 76 million units, a substantial 10.2% increase
  • The EU solidified its position as the second-largest global car producer as production reached 12.1 million units, a growth of over 11%
  • China produced over 25.3 million cars, growing by over 9% and now represents more than a third of the global car manufacturing market
  • The US produced over 7.6 million cars, growing by 8.5%
  • Japan built over 7.7 million cars, a 17.4% increase

New EU car trade

  • The EU recorded a €90.6 billion surplus in new car trade, almost equivalent to 2022’s figures
  • China is the top source for EU car imports in volume and value, growing by almost 40% and over 37%, respectively
  • The UK and Japan rank second and third in value, respectively, capturing just over a 14% share each.
  • The US is the top destination for exports in value, while the UK ranks first in volume
  • China was the only major trade partner where exports declined; by over 20% in value and around 14.4% in volume
ACEA’s Economic and Market Report provides data on car sales, production, and trade in Europe and globally.


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This information was presumed to be correct at the time of publication. However, ACEA is not responsible for any inconsistencies or errors in the data.

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