Keyword/Image Search
AI Navigator
login
Customized aggregation
Company Info
Our Services
Service Fees
Register New Users
Help & Guide
GlobalData European Passenger Car Sales Update (November 2023)
2023/12/08
Table of contents
-
Summary
-
Commentary
Summary
- The Western Europe PV selling rate rose slightly in November to 12.5 million units/year, from 12.0 million units/year in October. The region registered 968k vehicles in November, 5.3% higher YoY, with 10.6 million units sold year-to-date – almost 16% higher than YTD November 2022.
- Germany was the only major West European country with negative YoY growth at -5.7%, but this is due to November 2022 being a strong month as consumers brought forward their purchases before the government reined in EV incentives from the start of 2023. France and Italy, however, continue to recover strongly with double digit YoY growth thanks to improved supply conditions.
- Western Europe’s PV market sales have been benefiting in 2023 from easing supply constraints, helping OEMs tackle backlogged orders. Looking ahead, we expect to see more growth, albeit at a slower pace than the recent YoY results. 2024 will see supply shortages make way for a market that better reflects underlying demand. However, constraints on household budgets, including high interest rates, are set to limit more meaningful growth and market recovery. With the economic outlook looking more muted next year, the PV forecast for 2024 has been adjusted downward.
This report is for paid members only.
If you register as a free member, you can read the rest of this article for a limited time.
In addition, you can also enjoy the following content for free:
Related Report File
-
{{ ct_title }}
Loading...
Japan
+81-3-4241-3907
USA
Mexico
Germany
China (Shanghai)
Thailand
India