Click to enlarge.
In November 2023, the EU’ car market grew by 6.7%, according to data just released by ACEA.* This was the sixteenth consecutive month of expansion. There were substantial double-digit gains in some markets, including two of the largest – Italy (+16.2%) and France (+14%).
However, the German car market retracted, recording a -5.7% decline compared to November 2022, which provided a small base line for comparison across the EU. Overall new car registrations were +6.7% in November; with a battery electric market share at 16.3%. Eleven months into 2023, new car registrations increased by 15.7%, reaching nearly ten million units. With the exception of Hungary, all EU markets grew during this eleven-month period. The four largest markets contributed to this trend: Italy (+20%), Spain (+17.3%), France (+16.2%), and Germany (+11.4%).
Click to enlarge.
In November, new EU registrations of hybrid-electric cars ascended by 28.7%, driven by double-digit growth in the three largest markets: Germany (+38.4%), France (+35.8%), and Italy (+30.2%). This led to a cumulative 29.9% increase, reaching ~2.5 million units sold as of November –more than a quarter of the EU market share.
Diverging, sales of plug-in hybrid electric cars declined by 22.1% to 72,002 units last month. Despite notable increases in Belgium (+43.8%) and France (+17.8%), these gains were insufficient to offset Germany’s considerable decline (-59.3%), the largest market for this powertrain. Consequently, the market share of plug-in hybrid cars fell from 11.1% last year to 8.1% in November this year.
Gasoline and Diesel cars
In November 2023, the EU gasoline car market grew by 4.2%, despite a continual decline in market share, which stood at 32.7% in October. Key markets in Italy (+20.2%) and Germany (+12.5%) saw significant sales increases, contributing to this overall growth. This resulted in a cumulative volume of 3.5 million units sold, reflecting an 11.1% increase and a 35.7% market share over the eleven-month period.
Conversely, the EU diesel car market continued its downward plummet in November, contracting by 10.3%. This decline was observed in most of the trade bloc’s markets, including the four largest: France (-28.3%), Spain (-22.8%), Italy (-7.4%), and Germany (-1%). Despite this overall decline, diesel car sales grew in certain Central and Eastern European markets, such as Poland (+13.8%). In November, diesel cars represented a market share of 12.2%, down from 14.5% in the same month last year.
*ACEA: 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, JLR, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, and Volvo Group. Data source is ACEA, based on aggregated data provided by national automobile associations, ACEA members and S&P Global Mobility. Some of the interpretations are AutoInformed’s.
About the EU automobile industry
- 9 million Europeans work in the automotive sector.
- 3% of all manufacturing jobs in the EU.
- €392.2 billion in tax revenue for European governments.
- €101.9 billion trade surplus for the European Union.
- Over 7% of EU GDP generated by the auto industry.
- €59.1 billion in R&D spending annually, 31% of EU total.
Inevitable Footnotes
- ACEA estimation based on total by market
- Bentley, Bugatti, Lamborghini, and MAN
- Includes Abarth
- Dodge, Maserati, and RAM
November 2023 EU Car Market Grows on Mixed Results
Click to enlarge.
In November 2023, the EU’ car market grew by 6.7%, according to data just released by ACEA.* This was the sixteenth consecutive month of expansion. There were substantial double-digit gains in some markets, including two of the largest – Italy (+16.2%) and France (+14%).
However, the German car market retracted, recording a -5.7% decline compared to November 2022, which provided a small base line for comparison across the EU. Overall new car registrations were +6.7% in November; with a battery electric market share at 16.3%. Eleven months into 2023, new car registrations increased by 15.7%, reaching nearly ten million units. With the exception of Hungary, all EU markets grew during this eleven-month period. The four largest markets contributed to this trend: Italy (+20%), Spain (+17.3%), France (+16.2%), and Germany (+11.4%).
Click to enlarge.
In November, new EU registrations of hybrid-electric cars ascended by 28.7%, driven by double-digit growth in the three largest markets: Germany (+38.4%), France (+35.8%), and Italy (+30.2%). This led to a cumulative 29.9% increase, reaching ~2.5 million units sold as of November –more than a quarter of the EU market share.
Diverging, sales of plug-in hybrid electric cars declined by 22.1% to 72,002 units last month. Despite notable increases in Belgium (+43.8%) and France (+17.8%), these gains were insufficient to offset Germany’s considerable decline (-59.3%), the largest market for this powertrain. Consequently, the market share of plug-in hybrid cars fell from 11.1% last year to 8.1% in November this year.
Gasoline and Diesel cars
In November 2023, the EU gasoline car market grew by 4.2%, despite a continual decline in market share, which stood at 32.7% in October. Key markets in Italy (+20.2%) and Germany (+12.5%) saw significant sales increases, contributing to this overall growth. This resulted in a cumulative volume of 3.5 million units sold, reflecting an 11.1% increase and a 35.7% market share over the eleven-month period.
Conversely, the EU diesel car market continued its downward plummet in November, contracting by 10.3%. This decline was observed in most of the trade bloc’s markets, including the four largest: France (-28.3%), Spain (-22.8%), Italy (-7.4%), and Germany (-1%). Despite this overall decline, diesel car sales grew in certain Central and Eastern European markets, such as Poland (+13.8%). In November, diesel cars represented a market share of 12.2%, down from 14.5% in the same month last year.
*ACEA: 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, JLR, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, and Volvo Group. Data source is ACEA, based on aggregated data provided by national automobile associations, ACEA members and S&P Global Mobility. Some of the interpretations are AutoInformed’s.
About the EU automobile industry
Inevitable Footnotes