2:31 pm, February 3, 2023
The Peugeot 208 knocked the Volkswagen Golf off its best-selling perch in 2022, as new car sales in Europe slumped for a third year in a row.
Registrations in the EU plus the UK, Norway, Switzerland and Iceland came to 11,309,310 units, which was down by 4.1 per cent compared to 2021.
Last year was the worst year for sales of new cars in Europe since 1985.
Felipe Munoz, global analyst at Jato Dynamics, said: ‘Shortages of new vehicles at dealerships, inflation, and the energy crisis, all proved to be major challenges for the already troubled market last year.
‘The fallout of the pandemic, followed by the semi-conductor shortage throughout 2021 and 2022, was only compounded by Russia’s invasion of Ukraine and subsequent energy price increases, impacting consumer confidence and spending.’
Chinese brands, including MG but excluding Lynk & Co, gained the most market share in 2022, jumping from 66,100 units in 2021 to 152,400 units last year.
Combined, Chinese brands outsold manufacturers including Mazda, Suzuki and Jaguar Land Rover.
DR Automobiles, an Italian brand that sells rebadged cars built by Chinese firm Chery in Spain and Italy, outsold Smart and Subaru with 25,000 units.
MG and DR accounted for 91 per cent of the volume registered by all Chinese brands.
BYD, Hongqi, Maxus, Nio, DFSK, and Aiways, all registered over 1,000 units.
Munoz, continued: ‘A competitive product offering and reasonable sales targets are allowing Chinese brands to make inroads into the European car market.
‘The next step is to build awareness and encourage the shift away from the negative sentiment that has historically disuaded some consumers from buying Chinese products.’
Tesla saw its market share rise to 2.06 per cent in 2022, while Stellantis, Suzuki and Volkswagen declined, with Stellantis recording the biggest drop from 20.23 per cent to 18.22 per cent.
The surprise of 2022, however, was that Peugeot dethroned Volkswagen for best-selling car.
Peugeot shifted 206,816 units of the 208, while the Golf finished in fifth with 177,203.
It’s the first time the Golf hasn’t taken the top spot since 2007.
Car Dealer Live – the future of the car dealer – exclusive conference features talks from leading car dealers, Google and Auto Trader among much more. Find out the full event details and book tickets.
