As of 2023, Germany leads European household expenditure on vehicle purchases with €80.76 billion, followed by the UK (€62.7 billion) and France (€37.29 billion). In 2023, Germany saw a slight 0.34% rise, whereas the UK grew by 1.71%. France experienced a decrease of 3.25%. Notably, countries like Lithuania and Greece showed significant increases of 11.71% and 8.22%, respectively. Luxembourg and Slovakia, however, witnessed declines of -2.81% and -4.45%, respectively.
Future trends in European vehicle expenditures may include increased spending in Eastern European countries as economies grow. Potential for growth in electric and hybrid vehicle markets should be watched, driven by environmental concerns and governmental incentives.
- Significant expenditure disparities exist across Europe.
- Poland and Romania see notable positive trends.
- Northern and Western Europe show moderate percentage variations.
- Continued monitoring of economic conditions and technology developments is critical.
Top countries in Household Expenditure on Purchase of Vehicles by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 80,760 | 2023 | +2.52% | +0.34% | View data |
| 2 | 2 United Kingdom | 62,700 | 2023 | +0.97% | +1.71% | View data |
| 3 | 3 France | 37,290 | 2023 | +1.5% | -3.25% | View data |
| 4 | 4 Italy | 28,790 | 2023 | +0.4% | -3.62% | View data |
| 5 | 5 Spain | 23,530 | 2023 | +2.47% | -1% | View data |
| 6 | 6 Poland | 17,310 | 2023 | -1.93% | +2.73% | View data |
| 7 | 7 Netherlands | 12,340 | 2023 | +1.58% | +2.12% | View data |
| 8 | 8 Sweden | 10,280 | 2023 | +2.75% | +7.34% | View data |
| 9 | 9 Norway | 8,260 | 2023 | +1.38% | +0.033% | View data |
| 10 | 10 Portugal | 7,050 | 2023 | +0.84% | +0.49% | View data |
