H. Yoo
Research expert covering South Korea
Automotive retail industry in Germany - statistics & facts
Germans buy the most cars in Europe. New passenger car registrations in Germany in 2023 were nearly 941,600 units higher than those in the United Kingdom, and over one million over new registrations in France. Despite this comparatively high sales volume, businesses in the German automotive industry have faced pressures from a lack of orders, leading them to have a negative perception of the automotive business climate between June 2023 and April 2024. Despite these setbacks, the automotive industry generated its highest revenue in the past two decades in 2023, with 37 percent of this revenue coming directly from new car and truck sales. As the direct link between consumers and automakers, automotive retail plays an important part in the financial performance of the overall automotive industry. The position of Germany as the largest car market in Europe further incentivizes automotive companies to invest in the country.
