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GlobalData European Passenger Car Sales Update (September 2024)
2024/10/10
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Summary
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Commentary
Summary
- The Western Europe PV selling rate decreased to 11.3 mn units/year in September, from well above 12 mn units/year the previous month. In year-on-year (YoY) terms, sales volumes were down 4.8% — September 2023 being a relatively strong base for comparison as improved supply supported the fulfilment of backlogged orders.
- Sales in Germany remained disappointing as consumer confidence struggles. In what is a seasonally strong month for the UK, the selling rate fell back from recent levels, though YoY growth was in positive territory.
- Year-to-date (YTD), the Western European market is now flat in comparison to last year (+0.3%). The big picture within the industry remains the same. Strong vehicle pricing, high interest rates, and a lack a of incentives, continue to restrict sales. Some improvement is expected moving in 2025 as monetary policy easing supports broad economic expansion.
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