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EU Car Market Drops in December after 16 Months of Growth
During 2023, the EU car market concluded with a 13.9% expansion compared to 2022, reaching a full-year volume of 10.5 million units. All EU markets grew in the past year except for Hungary (-3.4%). Double-digit gains were recorded in most markets, including three of the largest: Italy (+18.9%), Spain (+16.7%), and France (+16.1%). Conversely, Germany recorded a more modest 7.3% year-on-year increase, influenced by its weaker December performance. Continue reading →