Car Sales in the EU Increased by 29% in March

Car sales in the European Union increased by 28.8% to 1.088 million units in March compared to the same month last year. The information has been published by the European Automobile Manufacturers Association (ACEA).

Last month, all the largest markets of the European Union showed double-digit sales growth: Spain – 66.1%, Italy – 40.7%, France – 24.2%, Germany – 16.6%.

Why did Car Sales increase this Year?

The number of new cars sold in Europe as a whole (EU countries plus Iceland, Norway, Switzerland and Great Britain) increased by 26.1% in March to 1.42 million vehicles.

Sales of Volkswagen Group (VW) vehicles (including Skoda, Audi, Seat, Porsche, etc.) in the EU rose by 35% last month to 275,757 units. VW’s EU market share rose to 25.3% from 24.2%.

The car sales of the Stellantis car concern (combined by Fiat Chrysler and PSA Group) increased by 29% and amounted to 216,862 units. The market share of Stellantis remained at the level of 19.9%.

Renault Group’s sales increased by 30% to 110,496 vehicles, Hyundai Group’s (which includes Kia) – by 9% to 83,376 vehicles.

Sales of Toyota cars increased by 25%, BMW – by 28%, and Mercedes-Benz – by 20%.

Tesla Inc.’s electric vehicle sales in the European Union rose 1.8 times to 40,777 units.

Overall, sales of electric vehicles in the region increased 1.6 times and amounted to 151,573 vehicles. The share of electric cars in the European market increased to 13.9% in March.

EU car sales increased by 17.9% to 2.65 million units in the first quarter of 2023.