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Automotive Industry:Europe: Difference between revisions
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[[File:Screenshot 2023-09-20 103712.png|center|thumb|684x684px|<ref>https://tradingeconomics.com/european-union/car-registrations#:~:text=EU%20Car%20Registrations%20Rise%2018.5%25%20in%20May&text=Considering%20the%20first%20five%20months,5.7%20million%20units%20were%20registered</ref>]] | [[File:Screenshot 2023-09-20 103712.png|center|thumb|684x684px|<ref>https://tradingeconomics.com/european-union/car-registrations#:~:text=EU%20Car%20Registrations%20Rise%2018.5%25%20in%20May&text=Considering%20the%20first%20five%20months,5.7%20million%20units%20were%20registered</ref>]] | ||
=== January 2024 === | ==== January 2024 ==== | ||
In January 2024, the EU new car market rebounded from the slowdown experienced in December 2023, with year-on-year car registrations increasing by 12.1% to 851,690 units. Notably, the bloc’s major markets all saw significant growth, with Germany (+19.1%), Italy (+10.6%), France (+9.2%), and Spain (+7.3%) achieving either high single-digit or doubledigit gains.<ref>https://www.acea.auto/files/Press_release_car_registrations-January_2024.pdf</ref> | In January 2024, the EU new car market rebounded from the slowdown experienced in December 2023, with year-on-year car registrations increasing by 12.1% to 851,690 units. Notably, the bloc’s major markets all saw significant growth, with Germany (+19.1%), Italy (+10.6%), France (+9.2%), and Spain (+7.3%) achieving either high single-digit or doubledigit gains.<ref>https://www.acea.auto/files/Press_release_car_registrations-January_2024.pdf</ref> | ||
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=== December 2023 === | ==== December 2023 ==== | ||
In 2023, the EU car market concluded with a solid 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.<ref>https://www.acea.auto/pc-registrations/new-car-registrations-13-9-in-2023-battery-electric-14-6-market-share/</ref> | In 2023, the EU car market concluded with a solid 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.<ref>https://www.acea.auto/pc-registrations/new-car-registrations-13-9-in-2023-battery-electric-14-6-market-share/</ref> | ||
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=== 2022 === | ==== 2022 ==== | ||
<ref>https://www.acea.auto/files/20230201_PRPC-fuel_Q4-2022_FINAL-1.pdf</ref> | <ref>https://www.acea.auto/files/20230201_PRPC-fuel_Q4-2022_FINAL-1.pdf</ref> | ||
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== Forecast == | === Forecast === | ||
=== 2023 === | ==== 2023 ==== | ||
New car registrations are expected to increase by around 5% in 2023. If achieved, this would put registration volumes broadly on a par with 2020, but still far below the 13 million units recorded prior to the pandemic in 2019.<ref>https://www.acea.auto/files/Economic-and-Market-Report_Full-year-2022.pdf</ref>4 | New car registrations are expected to increase by around 5% in 2023. If achieved, this would put registration volumes broadly on a par with 2020, but still far below the 13 million units recorded prior to the pandemic in 2019.<ref>https://www.acea.auto/files/Economic-and-Market-Report_Full-year-2022.pdf</ref>4 | ||
=== 2024 === | ==== 2024 ==== | ||
* European Union new car sales will rise by only 2.5% in 2024, a slowdown compared to a 12% increase in 2023, European automobile manufacturers association ACEA forecast.<ref>https://www.reuters.com/business/autos-transportation/eu-new-car-sales-growth-slow-ev-share-rise-2024-acea-2023-11-29/</ref> | * European Union new car sales will rise by only 2.5% in 2024, a slowdown compared to a 12% increase in 2023, European automobile manufacturers association ACEA forecast.<ref>https://www.reuters.com/business/autos-transportation/eu-new-car-sales-growth-slow-ev-share-rise-2024-acea-2023-11-29/</ref> | ||