In 2023, Germany led the European wholesale, retail, and repair of motor vehicles and motorcycles sector with a gross value added of 389.19 billion euros, growing by 5.2% year-on-year. Notably, Slovakia and Lithuania observed strong growths of 6.6% and 6.64%, respectively. Conversely, Cyprus experienced modest growth at 0.76%.
Looking forward, several trends could shape future market dynamics in Europe:
- Transition towards electric vehicles leading to shifts in demand and supply chains.
- Increasing consideration of sustainable practices driving innovations in the vehicle repair sector.
- Digital transformation possibly enhancing customer engagement in retail sectors.
- Economic fluctuations potentially impacting consumer spending on motor vehicles.
Top countries in Wholesale, Retail and Repair of Motor Vehicles and Motorcycles Gross Value Added by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 389,190 | 2023 | +4.84% | +5.2% | View data |
| 2 | 2 Italy | 205,280 | 2023 | -2.55% | +1.7% | View data |
| 3 | 3 Netherlands | 125,760 | 2023 | +5.82% | +5.73% | View data |
| 4 | 4 Belgium | 58,730 | 2023 | +1.76% | +4.22% | View data |
| 5 | 5 Finland | 19,760 | 2023 | +1.77% | +1.83% | View data |
| 6 | 6 Slovakia | 11,620 | 2023 | +2.62% | +6.6% | View data |
| 7 | 7 Lithuania | 9,980 | 2023 | +4.07% | +6.64% | View data |
| 8 | 8 Latvia | 5,110 | 2023 | +9.43% | +7.12% | View data |
| 9 | 9 Estonia | 4,070 | 2023 | +4.09% | +6.38% | View data |
| 10 | 10 Cyprus | 2,220 | 2023 | +1.7% | +0.76% | View data |
