In 2024, despite fluctuations in its export figures, the European Union's automotive market demonstrated resilience with a total of 10.6 million vehicles sold.
Car exports from EU factories reached 4.55 million units, generating an impressive €154.7 billion. However, this figure represents a 7% decline compared to the previous year. As reported by the European Automobile Manufacturers Association (ACEA), production in the EU amounted to 11.4 million vehicles for 2024, which is also 6% lower than in 2023.
Germany topped the EU's production statistics, manufacturing approximately 3.94 million vehicles, followed by Spain with 1.87 million and the Czech Republic at 1.45 million. These statistics underscore the dominance of traditional automotive powers within the European market.
Great Britain was the largest recipient of these exports, importing just over 1.253 million vehicles worth €33.3 billion in 2024. The United States stood second, receiving 749,200 vehicles valued at €38.5 billion, while Turkey followed at third place with 579,800 vehicles worth €11.9 billion.
On the import side, the EU experienced a significant influx, bringing in vehicles worth €73.2 billion, a decrease of 5% from the previous year. The total number of imported vehicles reached 3.4 million units, with China being the largest supplier, sending 748,500 vehicles valued at €12.6 billion. Turkey followed with 542,100 vehicles worth €9 billion, and Japan supplied 498,400 vehicles totaling €11.7 billion.
Despite the challenges such as declining production volumes and reduced import-export figures, the EU maintained a strong balance of trade in the automotive sector. In 2024, the trade surplus exceeded €81 billion, though it marked a reduction of 5.9% compared to the previous year.
The European automotive industry remains one of the continent's largest industrial sectors, reflecting ongoing investments and consumer demand. The continued prominence of vehicles like the Toyota RAV4, which leads global sales in 2025, highlights the competitive nature of this market.
In summary, while 2024 showed some setbacks in both production and export numbers, the EU automotive market continued to play a crucial role in the global economy, driven by robust manufacturing capabilities and a diversified export strategy. Looking forward, the industry is poised for adaptivity as shifts in consumer preference and technological advancements begin to shape its future.
