Germany: Passenger Car Market 2024

Passenger Car Market Size in Germany

In 2021, after seven years of growth, there was significant decline in the German passenger car market, when its value decreased by -96.2% to $X. Over the period under review, consumption recorded a dramatic decline. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced sharply in the following year.

Passenger Car Production in Germany

In value terms, passenger car production shrank remarkably to $X in 2021 estimated in export price. Overall, production saw a deep contraction. The growth pace was the most rapid in 2018 with an increase of 8.4%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Passenger Car Exports

Exports from Germany

In 2021, overseas shipments of passenger cars increased by 1.5% to X units for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of 11%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, passenger car exports surged to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), China (X units) and the UK (X units) were the main destinations of passenger car exports from Germany, with a combined 90% share of total exports. These countries were followed by France, Italy, Japan, Switzerland, the Netherlands, Norway, Spain, Belgium, South Korea and Austria, which together accounted for a further 81%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +8.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and the UK ($X) were the largest markets for passenger car exported from Germany worldwide, with a combined 37% share of total exports. France, Italy, South Korea, the Netherlands, Belgium, Japan, Spain, Switzerland, Austria and Norway lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, South Korea, with a CAGR of +10.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, surging by 14% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.6% 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 export price increased by +103.7% against 2014 indices. The most prominent rate of growth was recorded in 2015 an increase of 50% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Norway ($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 South Korea (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Passenger Car Imports

Imports into Germany

In 2021, overseas purchases of passenger cars decreased by -6.8% to X units, falling for the second year in a row after four years of growth. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 12% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car imports reached $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 17% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Spain (X units), Belgium (X units) and China (X units) were the main suppliers of passenger car imports to Germany, with a combined 80% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +42.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car suppliers to Germany were Spain ($X), Belgium ($X) and Slovakia ($X), together comprising 30% of total imports. The Czech Republic, the United States, France, Hungary, Mexico, Italy, South Africa, Slovenia, Poland and China lagged somewhat behind, together comprising a further 49%.

China, with a CAGR of +20.0%, saw the highest rates of growth with regard to the value of imports, in terms of 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 9.1% against the previous year. Over the last nine years, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 11%. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :