Car sales in the EU grew by 16.7% over 10 months – Kommersant

Car sales in the EU grew by 16.7% over 10 months – Kommersant

According to the results of the first ten months of the year, almost 9 million cars were sold in the European Union, it follows from report European Automobile Manufacturers Association. This is 16.7% more than in the same period in 2022.

Car sales in the EU grew for the 15th month in a row. However, as the association notes, the European automobile market is still far from reaching the sales levels of 2018 and 2019, that is, before the COVID-19 pandemic. For example, in October 2019, about 1.18 million cars were sold, which was the best result for this month since 2009. In October 2023, 855.5 thousand cars were sold.

Another emerging trend is the reduction in the share of electric vehicles in total sales in recent months. If in August their share for the first time in history exceeded 20%, then it began to decline: in September it was already 14.8%, and at the end of October - 14.2%. At the same time, compared to last year, October sales of electric vehicles increased significantly - by 36.3%, to 121.8 thousand. And their market share a year earlier was only 12%.

The leader in the EU market in terms of sales remains the Volkswagen Group, which strengthened its position based on the results of ten months. The German concern sold a million cars, which is 20.5% more than last year. Thus, its market share increased from 25.2% to 26.1%. Sales of the Stellantis concern increased during the same period by only 6% (to 1.62 million units), as a result, its share decreased from 20.3% to 18.4%. Renault Group remains in third place in terms of sales in the EU - 955.8 thousand cars sold (+21.2%) and a market share of 10.9%.

About the results of manufacturers in other regions - in the material "Kommersant" “The global auto industry has recovered from the pandemic”.

Kirill Sarkhanyants

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