Single Article - The Association of European Vehicle Logistics

ACEA — 2024-03-08

News from Brussels

ACEA’s Economic and Market Report provides data on car sales, production, and trade in Europe and globally.

Sales

Global new car sales grew by almost 10% after remaining stable in 2022
EU new car sales surged by almost 14%, totalling 10.5 m units
New battery-electric car sales grew by 37%, reaching a market share of 14.6%
Although China’s car market stalled in the first three quarters of 2023, full-year sales grew by 4.5%
Japanese and US car sales experienced robust growth, increasing by almost 16% and over 14%, respectively

Production

Global car production hit 76 m units, a substantial 10.2% increase
The EU solidified its position as the second-largest global car producer as production reached 12.1 m units, a growth of over 11%
China produced over 25.3 m cars, growing by over 9% and now represents more than a third of the global car manufacturing market
The US produced over 7.6 m cars, growing by 8.5%
Japan built over 7.7 m cars, a 17.4% increase

New EU car trade

The EU recorded a €90.6 bn surplus in new car trade, almost equivalent to 2022’s figures
China is the top source for EU car imports in volume and value, growing by almost 40% and over 37%, respectively
The UK and Japan rank second and third in value, respectively, capturing just over a 14% share each.
The US is the top destination for exports in value, while the UK ranks first in volume
China was the only major trade partner where exports declined; by over 20% in value and around 14.4% in volume