The Strategist

New passenger car sales in EU skyrocket in July

08/30/2023 - 10:49

ACEA: the EU saw a 15.2 percent increase in new passenger car sales in July.

The European Automobile Manufacturers Association (ACEA) reported that in annualized figures, new passenger car sales in the European Union climbed by 15.2 percent in July to 851.156 thousand vehicles.

"The EU vehicle market increased by 15.2% in July 2023, marking the twelfth month in a straight that it has grown. As the bloc rebounds from component shortages last year, new vehicle registrations hit 851,156 units," the organization stated.

At the same time, the biggest markets experienced rapid growth: France increased by 19.9%, Germany by 18.1%, Spain by 10.7%, and Italy by 9.1%.

EU sales grew by 17.6% year over year to 6.3 million automobiles from January to July.