{"id":48554,"date":"2023-12-07T08:50:00","date_gmt":"2023-12-07T07:50:00","guid":{"rendered":"https:\/\/www.acea.auto\/?post_type=publications&#038;p=48554"},"modified":"2024-03-07T16:34:37","modified_gmt":"2024-03-07T15:34:37","slug":"economic-and-market-report-global-and-eu-auto-industry-first-three-quarters-2023","status":"publish","type":"publications","link":"https:\/\/www.acea.auto\/publication\/economic-and-market-report-global-and-eu-auto-industry-first-three-quarters-2023\/","title":{"rendered":"Economic and Market Report: Global and EU auto industry \u2013 First three quarters 2023"},"content":{"rendered":"\n<div class=\"intro block-container\"><p>ACEA\u2019s Economic and Market Report provides current and forecast data on car sales, production, and trade in Europe and global markets.<\/p><\/div>\n\n\n\n<div class=\"cntnt block-container\">\n<h2 class=\"wp-block-heading\" id=\"h-key-insights\">Key insights<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Sales<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EU car sales surged by almost 17% in the first three quarters of 2023, with 12% growth forecast for the full year<\/li>\n\n\n\n<li>EU car sales are expected to increase by 2.5% in 2024, albeit at a slower pace compared to 2023<\/li>\n\n\n\n<li>Battery-electric car sales grew by 55% in the first three quarters of 2023. The share of battery-electric models is expected to rise to 14.5% by the end of 2023<\/li>\n\n\n\n<li>Japanese and US car sales experienced robust growth in the first three quarters of 2023, growing by almost 18% and over 15%, respectively<\/li>\n\n\n\n<li>Conversely, China\u2019s car market stalled in the first three quarters of 2023, growing nominally by 0.2%<\/li>\n\n\n\n<li>Globally, car sales grew by almost 9% in the first three quarters of 2023<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Production<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Over nine million cars were produced in the EU in the first three quarters of 2023, a 14% increase from the same period in 2022<\/li>\n\n\n\n<li>The US produced almost six million cars, growing by 11.2<\/li>\n\n\n\n<li>China produced 17.5 million cars in the first three quarters, growing at a slower pace of 4.7% compared to other major car-producing regions<\/li>\n\n\n\n<li>Japan produced 5.6 million cars in the first three quarters, an 18.5% growth<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trade<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EU car trade recorded a \u20ac70 billion trade surplus in the first three quarters of 2023, a 4.7% increase<\/li>\n\n\n\n<li>China is the top exporter of cars to the EU both in volume and value terms, growing by an impressive 58.1%, representing 17.2% of the market value<\/li>\n\n\n\n<li>The US and UK car import markets grew by an impressive 62.4% and 33.2%, respectively<\/li>\n\n\n\n<li>In the first three quarters of 2023, the export value of EU-made cars to the UK and the US increased by 28.1% and 16%, respectively \u2013 in China, the export value retracted by almost 18%<\/li>\n<\/ul>\n\n\n\n\t\t<blockquote class=\"shareable-blockquote\">\n\t\t\t<div class=\"content\">Battery-electric car sales grew by 55% in the first three quarters of 2023. The share of battery-electric models is expected to rise to 14.5% by the end of 2023.<\/div>\n\t\t\t<div class=\"share-links\">\n\t\t\t\t<div class=\"share-buttons\"><a class=\"twitter resp-sharing-button__link\" aria-label=\"\" href=\"https:\/\/twitter.com\/intent\/tweet\/?text=Battery-electric%20car%20sales%20grew%20by%2055%25%20in%20the%20first%20three%20quarters%20of%202023.%20The%20share%20of%20battery-electric%20models%20is%20expected%20to%20rise%20to%2014.5%25%20by%20the%20end%20of%202023.&amp;url=https%3A%2F%2Fwww.acea.auto%2Fpublication%2Feconomic-and-market-report-global-and-eu-auto-industry-first-three-quarters-2023%2F\" target=\"_blank\">\n                    <span class=\"resp-sharing-button resp-sharing-button--twitter resp-sharing-button--small\"><span aria-hidden=\"true\" class=\"resp-sharing-button__icon resp-sharing-button__icon--solid\">\n                        <i class=\"social-icon twitter\"><\/i>\n                    <\/span>\n                <\/span>\n           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Whenever reproduction is permitted, ACEA shall be referred to as source of the information. Quoting or referring to this document is permitted provided ACEA is referred to as the source of the information.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-disclaimer\">Disclaimer<\/h2>\n\n\n\n<p>This information was presumed to be correct at the time of publication. However, ACEA is not responsible for any inconsistencies or errors in the data.<\/p>\n<\/div>\n\n\n\n\n\n<div><\/div>\n","protected":false},"template":"","priority-tags":[820,831,821,832,813,819,829,830],"vehicles":[838,851],"class_list":["post-48554","publications","type-publications","status-publish","has-post-thumbnail","hentry","priority-tags-exports-of-vehicles","priority-tags-production-of-vehicles","priority-tags-imports-of-vehicles","priority-tags-registrations-of-vehicles","priority-tags-global-competitive","priority-tags-international-trade","priority-tags-manufacturing-footprint","priority-tags-market-and-economy","vehicles-passenger-cars","vehicles-all-vehicles","sticky"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/publications\/48554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/publications"}],"about":[{"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/types\/publications"}],"version-history":[{"count":30,"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/publications\/48554\/revisions"}],"predecessor-version":[{"id":49424,"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/publications\/48554\/revisions\/49424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/media\/48560"}],"wp:attachment":[{"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/media?parent=48554"}],"wp:term":[{"taxonomy":"priority-tags","embeddable":true,"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/priority-tags?post=48554"},{"taxonomy":"vehicles","embeddable":true,"href":"https:\/\/www.acea.auto\/wp-json\/wp\/v2\/vehicles?post=48554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}