YTD market share of selected car manufacturers in Europe 2022

The Volkswagen Group accounted for one quarter of new car registrations in the European market between January and December 2022. Year-to-date, the automaker sold some 2.79 million units, roughly 737,000 units more than the manufacturer's closest rival.

Stellantis becomes Europe's second largest auto manufacturer

Second-placed Stellantis comprises 14 brands, including Opel and Vauxhall, two brands previously owned by General Motors, in 2017. Stellantis was formed by the merger of FCA and PSA. Incentives offered by the French government fuelled demand in PSA's domestic market, France. However, the French market crumbled in Autumn 2020 and Germany remained as Europe's leading passenger car market. In May 2021, German manufacturers – Volkswagen and peer automakers Daimler and BMW – held just under 40 percent of the European market.

European car sales collapsed during the pandemic

Between January and December 2020, passenger car sales in Europe decreased by about 24 percent to roughly 12 million units. Sales began to tank mid-March, amid the coronavirus pandemic in Europe. Year-on-year sales were still down 57 percent in May 2020, but car sales began to bounce back as economies reopened. Month-on-month sales more than doubled in May and continued on an upward trajectory in June. Sales were back to normal levels in September and October. Outbreaks of COVID-19 in the Autumn of 2020 prevented a positive end to the year for the automotive industry.