France: Passenger Car Market 2024

Passenger Car Market Size in France

In 2021, the French passenger car market decreased by -74.8% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption saw a deep slump. Over the period under review, the market reached the peak level at $X in 2020, and then shrank sharply in the following year.

Passenger Car Production in France

In value terms, passenger car production dropped remarkably to $X in 2021 estimated in export price. Overall, production showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 11%. Passenger car production peaked at $X in 2020, and then dropped dramatically in the following year.

Passenger Car Exports

Exports from France

In 2021, overseas shipments of passenger cars were finally on the rise to reach X units after four years of decline. In general, exports, however, continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2016 with an increase of 24%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, passenger car exports expanded notably to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 21%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for passenger car exports from France, with a 48% share of total exports. Moreover, passenger car exports to Germany exceeded the volume sent to the second major destination, Belgium (X units), fourfold. The third position in this ranking was held by Italy (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-4.8% per year) and Italy (-3.2% per year).

In value terms, Germany ($X), Belgium ($X) and Italy ($X) appeared to be the largest markets for passenger car exported from France worldwide, with a combined 48% share of total exports. Spain, the UK, Poland, the Netherlands, Turkey, Portugal, Switzerland, Denmark and Egypt lagged somewhat behind, together comprising a further 31%.

Egypt, with a CAGR of +27.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average passenger car export price stood at $X per unit in 2021, dropping by -1.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2017 when the average export price increased by 26% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Denmark ($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 (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into France

In 2021, purchases abroad of passenger cars decreased by -1.1% to X units, falling for the second consecutive year after two years of growth. In general, imports, however, saw a modest increase. The pace of growth appeared the most rapid in 2018 with an increase of 357%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), Spain (X units) and Slovakia (X units) were the main suppliers of passenger car imports to France, together accounting for 71% of total imports. These countries were followed by Morocco, South Korea, Belgium, Turkey, the Czech Republic, Romania, Italy, Slovenia, China and the UK, which together accounted for a further 53%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +19.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and Belgium ($X) appeared to be the largest passenger car suppliers to France, together comprising 52% of total imports. Slovakia, Morocco, Turkey, the Czech Republic, Italy, South Korea, Romania, Slovenia, the UK and China lagged somewhat behind, together accounting for a further 37%.

China, with a CAGR of +33.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, growing by 11% against the previous year. In general, the import price continues to indicate a moderate expansion. The pace of growth was the most pronounced in 2017 an increase of 427% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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