Economic and Market Report: state of the EU auto industry – Full-year 2022
This latest edition of ACEA’s Economic and Market Report covers the full year of 2022, providing a detailed overview of passenger car registrations, as well as production, both in Europe and in key markets around the world.
The 10-page Economic and Market Report contains a wealth of information and can be downloaded for free by clicking here.
Passenger car registrations
- In 2022, global new car registrations reached 66.2 million units, as sales recovered in the last quarter of the year. However, demand is still trending well below 2019 pre-pandemic levels.
- Registrations in the European region declined by 10.4% during 2022 to 12.8 million units, impacted by semiconductor shortages and the Russo-Ukrainian conflict.
- Despite a slight rebound in the final quarter of 2022, full-year sale volumes in North America were down 8.7% compared to 2021, at 12.7 million units.
- Japan’s passenger car sales were down by 5.1% compared with 2021, due to higher energy prices combined with depreciation of the yen.
- Demand in China increased by 7.6% year-on-year to 21.7 million cars sold, as the withdrawal of government incentives by the end 2022 has brought forward demand.
Passenger car production
- Despite an increase of 7.1% in the EU car production, overall volumes in Europe fell by 1.6%, impacted by the collapse of the Russian and Ukrainian markets.
- North American car production rose by 10.3% in 2022 to 10.4 million units, primarily driven by strong demand in the US.
- As lockdowns were lifted and with demand strongly stimulated by government incentives, Chinese car production increased by 11.7% last year, with 23.2 million vehicles built, representing 34% of global production.
- Boosted by robust domestic demand and higher consumer confidence, Indian car production reached 4.3 million units in 2022, resulting in strong growth of 21.6%.
- Overall, more than 68 million passenger cars were manufactured worldwide in 2022, an increase of 7.9% from a year earlier.
Should you have any questions about this Economic and Market Report, please don’t hesitate to contact the ACEA statistics department.
Full-year global new car registrations reached 66.2 million units, aided by the easing of semiconductor supplies. However, global vehicle demand is still trending well below pre-pandemic levels, and a comparison with 2019 volumes (74.9 million units) highlights how far registrations have dropped.
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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.