Luxembourg Auto Market in 2015 was the worse within the European Community.

Luxembourg Auto Market in 2015 was the worse within the European Community one of the only two markets down having lost 6% from the previous year. Volkswagen Golf was again the best-selling model.

Economic Environment

Luxembourg’s economy grew at a modest pace in Q3 over the previous quarter and marked a softer performance than in Q2. While fixed investment rebounded from a double-digit contraction to a similar-scale expansion, a significant deceleration in private consumption and rising imports weighed on growth.

On 8 January, Fitch Ratings reaffirmed Luxembourg’s AAA credit grade with a stable outlook. Fitch highlighted the country’s stable institutions and sound public finances. The agency also mentioned the country’s mild fiscal consolidation strategy in 2015–2019, as it has to cope with structural losses from e-VAT revenues that have arisen from changes in European Union regulations.

Market Outlook

When the rest of Europe performs well, there are fewer reasons to “use” Luxembourg institutions and services. This was the situation in the 2015 when the country GDP was stable and the automotive market resulted as the worse inside the 28 countries of the European Community, on of the two that have lost terrain (the other was Estonia).

Indeed, according to data released by the Statec, the Luxembourg Portal for Statistics, total new car passengers sold in Luxembourg have been 46.473, down 6.7% from the 2014, the worse in the last 20 years.

Volkswagen was the market leader with 5.816 sales (-9.7%) followed by BMW with 4.465 (+13.9%) and Audi with 4.259.

Volkswagen Gold was the market leader with 2.027 sales (-13.3%) followed by the Renault Scenic with 1.091 and the Audi A3 with 1.054.

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will report year to date data updated.