European Car Market in 2024 is experiencing growth in 2024, with monthly sales rising by 3.7% to reach 1.26 million. YTD figures grew by 3.6%, totaling 12.29 million. Among Top 10 brands, Russia (+55.5%) and Poland (+13.2%) posted the most significant growth.
Medium-Term Market Trend
The European market (including 43 countries from Portugal to Russia) is the 3rd largest region in the world, after Asia and the Americas, with volume in 2023 cumulating to 16.7 million new sales (+17.5% from 2022).
Diving into the past, regional sales fluctuated in the 18-19 million range in the years 2010 to 2019, reaching the current all-time high in 2017 at 19.9 million new registrations.
In 2020 the pandemic hit the market hard, causing an overall 20% drop in volume bringing yearly sales just below the 16 million mark. Since, the European market hasn’t been able to recover, with the 10 year low being set in 2022 at 14.2 million sales and 2023 closing just below the 17 million mark.
Market Trend and Outlook
In October 2024, the European passenger car market demonstrated growth, with monthly sales reaching 1.26 million units (-3.7%). Year-to-date sales totaled 12.29 million units, marking a 3.6% increase compared to the previous year.
Germany retained the top spot with 2.17 million sales, despite a 0.8% year-on-year decline, accounting for 17.7% of total European sales. The UK followed in second place with 1.65 million sales (+3.7%) and a 13.5% market share.
France closed the podium with 1,38 million sales (-3.1%) and a market share of 11-3%.
Italy ranked in 4th with 1,32 million sales (+0.8%), followed by Russia -up 2 spots- which posted 933,318 registrations so far (+55.5%).
Further down the rankings, Spain -down 1 spot- ranked in 6th with 826,300 new registrations (+4.9%), followed by Turkey -up 1 spot- which secured 7th spot and reported 748,180 cumulative sales (-0.9%),
Poland -up 1 spot- followed in 8th, reporting 442,893 cumulative sales (+13.2%), Belgium -down 1 spot- ranked 9th with 383,922 (-4.7%), and the Netherlands closed the Top 10 with 306,782 sales (-1.6%).
Tables with sales figures
In the tables below we report sales for the top 20 countries.