The number of passenger cars in Germany demonstrated a steady growth from 2013 to 2019, with average year-on-year increases generally around 1.25%. A significant dip occurred in 2020 with a 16.43% decline due to the global pandemic's impact. The market rebounded strongly in 2021 with a 15.22% rise, helping to offset the previous year's fall. By 2023, the volume stood at approximately 48.537 million. Over the last five years, the CAGR was 0.6%, indicating moderate but stable growth.
Looking forward, the forecast indicates gradual growth, with the number of passenger cars expected to reach about 49.995 million by 2028. The average forecasted annual growth rate (CAGR) for the next five years is 0.52%, offering moderate year-on-year increases of around 0.5% to 0.6%.
Future trends to watch include the adoption of electric vehicles (EVs), regulatory changes focusing on emission reductions, and shifts in consumer preferences towards mobility services versus ownership. These factors could potentially accelerate or decelerate the growth rate in unexpected ways.
