car markets
According to figures from the Association of automotive industry (VDA) around 3.2 million passenger cars were newly registered in Europe in the first quarter of 2023, 17 percent more than in the same period of the previous year. All five large individual markets grew, especially Spain (up 45 percent) and Italy (up 26 percent). In Deutschland the number of new registrations increased by 7 percent. Overall, the volume remains in Europa however 22 percent below the pre-corona year 2019.
In the USA passenger car sales rose in the first three months of the year by 8 percent above the 2022 value to almost 3.6 million units. were particularly popular Pick-ups and heavy-duty SUVs accounted for 79 percent of the total market turn off. The American market is also still 11 percent below the first quarter of 2019 in the first quarter.
While the US and Europe gained demand for new cars shrank in China. Around 5.1 million new registrations after three months correspond to one 7 percent decrease. Even a strong March with a plus of 23 percent could not compensate for the weak figures from January and February.