Denmark: Passenger Car Market 2024

Passenger Car Market Size in Denmark

The Danish passenger car market surged to $X in 2021, with an increase of 26% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Passenger Car Production in Denmark

In value terms, passenger car production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production showed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 46%. Passenger car production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Passenger Car Exports

Exports from Denmark

In 2021, approx. X units of passenger cars were exported from Denmark; picking up by 21% on the previous year. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 69%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, passenger car exports soared to $X in 2021. In general, exports recorded a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units), France (X units) and the Netherlands (X units) were the main destinations of passenger car exports from Denmark, with a combined 63% share of total exports. Poland, Ukraine, Belgium, Sweden, Lithuania, Faroe Islands, the Czech Republic, Austria, Romania and Portugal lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +140.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for passenger cars exports from Denmark, comprising 47% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total exports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+44.6% per year) and France (+34.2% per year).

Export Prices by Country

The average passenger car export price stood at $X per unit in 2021, picking up by 12% against the previous year. In general, the export price, however, showed a perceptible reduction. The growth pace was the most rapid in 2017 an increase of 12% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Ukraine ($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 Faroe Islands (-0.6%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into Denmark

In 2021, overseas purchases of passenger cars increased by 28% to X units, rising for the third consecutive year after two years of decline. Over the period under review, imports saw prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by 38%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, passenger car imports soared to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +111.1% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest passenger car supplier to Denmark, with a 39% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X units), twofold. The third position in this ranking was held by China (X units), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+10.8% per year) and China (+30.3% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to Denmark, comprising 48% of total imports. The second position in the ranking was taken by Sweden ($X), with a 20% share of total imports. It was followed by the Czech Republic, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+10.4% per year) and the Czech Republic (+6.8% per year).

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, waning by -5.9% against the previous year. Over the period under review, the import price continues to indicate a mild reduction. The growth pace was the most rapid in 2018 when the average import price increased by 17%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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