Austria: Passenger Car Market 2024

Passenger Car Market Size in Austria

The Austrian passenger car market surged to $X in 2021, jumping by 23% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.5% against 2014 indices. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the near future.

Passenger Car Production in Austria

In value terms, passenger car production stood at $X in 2021 estimated in export price. Over the period under review, production showed a significant expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 173%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Passenger Car Exports

Exports from Austria

In 2021, after two years of decline, there was growth in overseas shipments of passenger cars, when their volume increased by 2.6% to X units. Overall, exports, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2018 with an increase of 36%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, passenger car exports rose remarkably to $X in 2021. Over the period under review, total exports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.1% against 2019 indices. The pace of growth was the most pronounced in 2018 when exports increased by 40%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for passenger car exports from Austria, accounting for a 21% share of total exports. Moreover, passenger car exports to Germany exceeded the volume sent to the second major destination, Belgium (X units), threefold. The United States (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+15.5% per year) and the United States (-8.1% per year).

In value terms, Germany ($X) remains the key foreign market for passenger cars exports from Austria, comprising 21% of total exports. The second position in the ranking was held by the United States ($X), with a 9.3% share of total exports. It was followed by the UK, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.1% per year) and the UK (+8.4% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, rising by 7.5% against the previous year. In general, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2020 an increase of 36% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Austria

In 2021, overseas purchases of passenger cars were finally on the rise to reach X units after three years of decline. In general, imports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2013 with an increase of 12%. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of passenger car to Austria, accounting for a 45% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), sevenfold. The third position in this ranking was held by France (X units), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-4.3% per year) and France (-5.6% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to Austria, comprising 54% of total imports. The second position in the ranking was held by Slovakia ($X), with a 6.3% share of total imports. It was followed by Belgium, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+15.1% per year) and Belgium (+8.2% per year).

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, surging by 12% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, passenger car import price increased by +59.8% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 21%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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