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GlobalData European Passenger Car Sales Update (October 2024)
2024/11/08
- Summary
- Commentary
Summary
- The Western Europe PV selling rate was 11.6 mn units/year in October, a moderate improvement from September. In year-on-year (YoY) terms, sales volumes were slightly down (-1.2%). Germany and Spain saw positive results, while France, the UK, and Italy reported weaker YoY results.
- Year-to-date (YTD) sales remain broadly flat (+0.1%) in comparison to the previous year. Ongoing economic and political challenges in the region are hindering consumer confidence, and new vehicle sales continue to struggle. While monetary policy easing and new model activity are expected to provide some relief in the market in 2025, the prevailing headwinds are likely to continue to act as a drag on vehicle sales.
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