15 Dec 22

The European passenger car market recovered strongly in November

The European passenger car market recovered strongly in November

Figures released by the European Automobile Manufacturers' Association (ACEA) displayed a recovery streak in the European passenger car market between August and November. November sales appeared to be the highest this year, increasing by +16.3% compared to the same month last year. 

Overall, the European passenger car market is still recovering from the pandemic. In the first 11 months of 2022, the overall rate of sales remained -6.1% lower than in 2021. Yet, the continuous negative trend of sales was broken in August, following an unbroken positive streak that ended up with a substantial shift upwards, with 829.527 units sold in November. 

November 2022 sales remained lower than pre-pandemic levels, as over 1 million cars were sold in November 2019. Nevertheless, many major European markets contributed to the positive trend in sales in Europe among the last figures: 

  • Germany +31.4%
  • Italy +14.7%
  • Spain +10.3%
  • France +9.8% 

ACEA notes that despite the recent promising results, low sales from January to July created a negative year-to-date performance in 2022. Among the top regional markets, the weakest figures appeared in Italy with -11.6%, followed by France (-8.7%), Spain (-4.4%) and Germany (-2.4%).

Main image: Shutterstock 
Graphic: ACEA

Authored by: Mufit Yilmaz Gokmen