EU market evolution in Q1-2023 (PC+LUV)
- The Europe market (29 countries = European Union + UK + Norway + Switzerland) for light vehicles (PC+LUV) fell by 4% over the whole 2022 year compared to 2021. However, the monthly figures for this year 2022 highlight a recovery starting in autumn 2022 (17.5% increase in the last quarter of 2023 compared to the last quarter of 2022). This recovery continued in early 2023. In the first quarter of 2023, the European market recorded an increase of 17.6% from the first quarter of 2022. The trend of this growth is expected to decelerate in the coming months, according to Inovev.
- The registration figures for the first quarter of 2023 show that we are returning to the level of volumes recorded in 2021, which had seen registrations reach 11.8 million units against 11.3 million in 2022 (+4.5%). But we will still be far from the figures reached before the Covid: 15.6 million units in 2018 or 15.8 million units in 2019. In the first quarter of 2023, SUVs represented 48% of the European passenger car market.
- The Volkswagen group remains the European market leader with a 25% market share, ahead of the Stellantis groups (18%), Renault-Nissan (12%), Hyundai-Kia (9%) and Toyota (7%). Next are the German Premium carmakers, BMW (6%) and Mercedes (6%). Behind, we note the presence of the American carmakers Ford (4%) and Tesla (3%) which are ahead of the Chinese carmakers (2%) and Volvo (2%), which is part of the Chinese group Geely.
- Registration figures for light utility vehicles are not yet known for this period, but they should also show a real improvement compared to the previous three years which had been frankly poor.