Forecast: Passenger Cars in Use in Germany

From 2013 to 2019, the passenger cars in use in Germany showed a steady rise, achieving an average annual growth of around 1.2% initially and decelerating to nearly 0.32% by 2019. A significant drop of 16.86% occurred in 2020, primarily due to disruptions caused by the COVID-19 pandemic. However, the market rebounded in 2021 with a substantial increase of 14.64% and continued growth through 2023, marking the total passenger cars in use at 45.4 million units in 2023.

The year-on-year variation from 2022 to 2023 was relatively modest at 0.15%, and the last 5-year CAGR stands at 0.16%.

Future trends to watch for:

• Market stabilization with a forecasted average annual growth rate of 0.14% over the next 5 years.
• The potential impact of increased adoption of electric vehicles on overall market dynamics.
• Technology advancements in autonomous driving and shared mobility services influencing car ownership trends.