Passenger car registrations in November continues on an uptrend, posts YoY increase by 16.3%

Passenger car registrations in November continues on an uptrend, posts YoY increase by 16.3%

Read time
4 mins
CATEGORY
Forecasts
Published on
December 16, 2022

For the fourth month running, November continues on an uptrend, with 829,527 registrations, with the strongest increase attributed to gains in four key markets - Germany (+31.4%), Italy (+14.7%) and Spain (+10.3%) and France (+9.8%)  respectively. 

This number still stands nearly 170,000 units below pre-pandemic levels.

Ford came in strong at +37.3% with Volkswagen Group not far behind with a +36.4 YoY growth. Toyota Group continues its steady performance at +33.7% YoY growth.

The forecast for December

We forecasted the European passenger car market by building 35 models composed of 30 leading indicators on data from 2003 to 2022. The indicator analysis strategy we selected was the stepwise search. Indicio then weighted each model depending on performances at each horizon to create an aggregate forecast.  We anticipate 840,845K passenger car registrations in Dec which represents a 5.7% YoY decrease compared to Dec 2021. 

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