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Automotive Industry:Europe: Difference between revisions
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=== 2022 === | === 2022 === | ||
<ref>https://www.acea.auto/files/20230201_PRPC-fuel_Q4-2022_FINAL-1.pdf</ref> | |||
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* Overall, new car registrations in Europe grew 11.4% year-over-year to 1.6M new cars in the first two months of 2023<ref>https://www.acea.auto/pc-registrations/passenger-car-registrations-11-5-in-february-battery-electric-12-1-market-share/</ref>. | * Overall, new car registrations in Europe grew 11.4% year-over-year to 1.6M new cars in the first two months of 2023<ref>https://www.acea.auto/pc-registrations/passenger-car-registrations-11-5-in-february-battery-electric-12-1-market-share/</ref>. | ||
=== March 2023 | === March 2023 === | ||
* Passenger car registrations in the European Union surged 28.8% y/y to an over-three-year high of 1,087,939 units in March 2023, marking the eighth consecutive month of rise. However, the increase was largely due to the low base of comparison in 2022 during the semiconductor shortage crisis<ref>https://tradingeconomics.com/european-union/car-registrations</ref> | * Passenger car registrations in the European Union surged 28.8% y/y to an over-three-year high of 1,087,939 units in March 2023, marking the eighth consecutive month of rise. However, the increase was largely due to the low base of comparison in 2022 during the semiconductor shortage crisis<ref>https://tradingeconomics.com/european-union/car-registrations</ref> | ||
* In the first quarter of 2023, the EU car market saw a substantial increase in new car registrations, with almost 2.7 million units sold. This marks a 17.9% increase compared to 2022 | * In the first quarter of 2023, the EU car market saw a substantial increase in new car registrations, with almost 2.7 million units sold. This marks a 17.9% increase compared to 2022<ref>https://www.acea.auto/pc-registrations/new-car-registrations-28-8-in-march-battery-electric-13-9-market-share/</ref> | ||
* March saw significant increases in the market share of hybrid cars to 24.3% and battery electric cars to 13.9%. Despite the shift to more sustainable models, petrol cars still retain the largest market share at 37.5%. | * March saw significant increases in the market share of hybrid cars to 24.3% and battery electric cars to 13.9%. Despite the shift to more sustainable models, petrol cars still retain the largest market share at 37.5%. | ||
* EU witnessed a significant increase in new registrations of battery electric vehicles (BEVs), which surged by a massive 58% to reach 151,573 units. As a result, the cumulative number of units registered in the first quarter of 2023 rose by 43.2% to 320,987. | * EU witnessed a significant increase in new registrations of battery electric vehicles (BEVs), which surged by a massive 58% to reach 151,573 units. As a result, the cumulative number of units registered in the first quarter of 2023 rose by 43.2% to 320,987. | ||
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[[File:Screenshot 2023-09-07 122358.png|center|thumb|755x755px|https://www.bcg.com/publications/2023/european-auto-industry-is-under-pressure]] | [[File:Screenshot 2023-09-07 122358.png|center|thumb|755x755px|https://www.bcg.com/publications/2023/european-auto-industry-is-under-pressure]] | ||
=== <big>Allianz May 2023</big> === | |||
2022 was a record-breaking year for '''alternative energy vehicles in Europe, with sales soaring to 4.4mn units (+11% vs 2021) despite an overall -5% decline in new vehicle registrations.''' '''Between 2019 and 2022, the market share of alternative energy vehicles climbed from 11% to 47%.''' Battery electric vehicles (BEVs) led the way, with sales booming by +28%, representing 12% of all new vehicle registrations. | |||
[[File:Screenshot 2023-09-08 111850.png|center|thumb|777x777px|<ref>https://www.allianz.com/content/dam/onemarketing/azcom/Allianz_com/economic-research/publications/specials/en/2023/may/2023-05-09-Automobile.pdf</ref>]] | |||
== Future Macro Risks == | == Future Macro Risks == | ||