In 2023, the number of high-growth enterprises in the motor vehicle and motorcycle sector across Europe varied significantly. Hungary led the pack with a considerable share, followed by Lithuania, Portugal, and Romania. In contrast, countries like Italy and Latvia saw stark declines, with Italy experiencing a significant contraction.
Notable year-on-year trends include Hungary's growth at 18.4%, while Italy and Latvia faced significant downturns, declining by 47.33% and 29.46% respectively. Over the past five years, the compound annual growth rate (CAGR) varied, reflecting both expansion and contraction across different markets.
Future trends to watch include technological advancements in motor vehicles and motorcycles, shifts in consumer preferences toward electric vehicles, and sustainable practices, which might spur changes in enterprise growth across these European countries.
Top countries in Number of High Growth Enterprises in Motor Vehicles, Motorcycles Wholesale, Retail and Repair Share by Country (Units (Enterprises))
| # | 9 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 38.54 | 2023 | +21.44% | +18.4% | View data |
| 2 | 2 Lithuania | 15.13 | 2023 | +17.77% | +3.99% | View data |
| 3 | 3 Portugal | 13.39 | 2023 | +18.18% | -1.41% | View data |
| 4 | 4 Romania | 11.68 | 2023 | +21.96% | +4.25% | View data |
| 5 | 5 Czech Republic | 7.83 | 2023 | -0.57% | -8.64% | View data |
| 6 | 6 Slovakia | 5.64 | 2023 | +16.67% | -1.22% | View data |
| 7 | 7 Norway | 1.84 | 2023 | +2.5% | -7.02% | View data |
| 8 | 8 Italy | 1.66 | 2023 | -83.56% | -47.33% | View data |
| 9 | 9 Latvia | 0.49 | 2023 | -56% | -29.46% | View data |
