In 2023, Germany led the European market with the highest number of passenger cars aged less than 2 years, despite a 2.16% decline compared to 2022. France and Italy followed, although France saw a 5.09% decrease, while Italy's numbers remained almost stable with a minor 0.22% dip. Among notable positive trends, Spain (1.5%), Portugal (3.76%), and Croatia (5.58%) experienced growth, indicating resilience or recovery in specific markets. On the contrary, Belgium (-7.87%) and Romania (-8.03%) faced significant contractions.
Future trends to watch include potential rebounds driven by economic recovery and green vehicle incentives. The shift towards electric vehicles might greatly influence younger car demographics. Additionally, external factors such as supply chain dynamics and economic policies could drive disparities in growth rates across countries.
Top countries in Number of Passenger Cars Aged Less Than 2 Years by Country
| # | 10 Countries | Units | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 8,559,400 | 2023 | -0.56% | -2.16% | View data |
| 2 | 2 France | 5,049,600 | 2023 | -8.35% | -5.09% | View data |
| 3 | 3 Italy | 4,007,900 | 2023 | +2.22% | -0.22% | View data |
| 4 | 4 United Kingdom | 3,143,300 | 2021 | View data | ||
| 5 | 5 Spain | 2,666,000 | 2023 | +6.73% | +1.5% | View data |
| 6 | 6 Netherlands | 1,121,600 | 2023 | -5.25% | -2.61% | View data |
| 7 | 7 Poland | 1,096,900 | 2023 | -6.36% | -3.44% | View data |
| 8 | 8 Sweden | 735,770 | 2023 | -3.32% | -4.72% | View data |
| 9 | 9 Belgium | 708,810 | 2023 | -10.96% | -7.87% | View data |
| 10 | 10 Austria | 630,630 | 2023 | -10.18% | -7.46% | View data |
