Norway leads European household expenditure on vehicle purchases, at 1.52 thousand Euros per capita in 2024, despite a slight decline of 0.39% YoY. Iceland, showing significant growth of 5.77%, follows closely. Higher vehicle expenditure is observed in countries like Sweden and Germany, with minor fluctuations. Countries such as Lithuania and Greece exhibited notable increases at 11.35% and 8.02% respectively, whereas Luxembourg and Denmark faced declines of 4.68% and 0.22%. Southern and Eastern Europe, including Bulgaria, Romania, and Macedonia, generally spend less per capita, with some YoY improvements.
Future Trends to Watch:
- Electric vehicle adoption is likely to drive up expenditures in Northern and Western Europe.
- Post-pandemic economic recovery could boost vehicle purchases in Southern and Eastern Europe.
- Sustainability norms and government incentives will influence spending patterns across Europe.
Top countries in Household Expenditure on Purchase of Vehicles by Country
| # | 10 Countries | Euros Per Capita | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Norway | 1,520 | 2023 | +1.13% | -0.39% | View data |
| 2 | 2 Iceland | 1,430 | 2023 | +1.42% | +5.77% | View data |
| 3 | 3 Luxembourg | 1,210 | 2023 | -1.46% | -4.68% | View data |
| 4 | 4 Denmark | 1,010 | 2023 | +0.9% | -0.22% | View data |
| 5 | 5 Sweden | 972 | 2023 | +2.32% | +6.48% | View data |
| 6 | 6 Germany | 971 | 2023 | +3.09% | +0.19% | View data |
| 7 | 7 United Kingdom | 923 | 2023 | +0.54% | +1.19% | View data |
| 8 | 8 Slovenia | 780 | 2023 | 0% | +6.1% | View data |
| 9 | 9 Austria | 737 | 2023 | -0.54% | -0.38% | View data |
| 10 | 10 Ireland | 720 | 2023 | +1.94% | -3.78% | View data |
