Switzerland: Passenger Car Market 2024

Passenger Car Market Size in Switzerland

In 2021, after three years of decline, there was significant growth in the Swiss passenger car market, when its value increased by 583% to $X. Overall, consumption, however, showed a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Passenger Car Exports

Exports from Switzerland

In 2021, after two years of decline, there was significant growth in shipments abroad of passenger cars, when their volume increased by 19% to X units. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 19%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, passenger car exports skyrocketed to $X in 2021. Overall, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Serbia (X units), Poland (X units) and Libya (X units) were the main destinations of passenger car exports from Switzerland, together accounting for 44% of total exports. Bulgaria, France, Germany, Ukraine, North Macedonia, Niger, Albania, Hungary, Togo and Bosnia and Herzegovina lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +88.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for passenger cars exports from Switzerland, comprising 23% of total exports. The second position in the ranking was taken by France ($X), with an 11% share of total exports. It was followed by Poland, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+8.3% per year) and Poland (+19.6% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, growing by 6.5% against the previous year. In general, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, passenger car export price increased by +30.8% against 2016 indices. The pace of growth was the most pronounced in 2020 an increase of 31%. The export price peaked in 2021 and is expected to retain growth in years to come.

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 Germany ($X per unit), while the average price for exports to Libya ($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 Albania (+1.0%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into Switzerland

After three years of decline, overseas purchases of passenger cars increased by 59% to X units in 2021. Overall, imports, however, recorded a abrupt slump. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, passenger car imports totaled $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 3.7%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) was the main passenger car supplier to Switzerland, with a 104% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X units), twofold. The third position in this ranking was held by the Czech Republic (X units), with a 39% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+9.1% per year) and the Czech Republic (+9.1% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to Switzerland, comprising 36% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 7.3% share of total imports. It was followed by Spain, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+3.0% per year) and Spain (+1.0% per year).

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, declining by -35.4% against the previous year. In general, the import price, however, recorded a notable increase. The pace of growth appeared the most rapid in 2019 an increase of 55%. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then fell sharply in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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