Luxembourg Car Market in October 2023 reports 4,152 new sales (+19.8%), growing for the 10th month in a row after losing 48.2% in December 2022. YTD figures at 42,124 are up 18.6% from the previous year. Tesla rises 149.2% into 8th spot.
Market Trend and Outlook
The Luxembourg Car Market in October 2023 reports 4,152 new sales (+19.8%), growing for the 10th month in a row after losing 48.2% in December 2022. YTD figures at 42,124 are up 18.6% from the previous year.
Looking at cumulative data up to October 2023 brand-wise, Volkswagen is still the leader with 5,5055 sales (+20.0%), followed by BMW -up 2 spots- with 4,094 (+32.9%), Mercedes -down 1 spot- at 3,648 sales (+5.3%) and Audi with 3,343 sales (+3.3%).
In 5th ranks Skoda at 2,480 sales (+54.0%), followed by Peugeot -down 1 spot- at 2,198 (-25.3%) and Renault in 7th with 2,082 registrations (+58.9%).
Tesla rises 12 spots into 8th with 1,423 sales (+149.2%), followed by Fiat in 9th at 1,324 (-0.5%) and finally Opel in 10th position with 1,313 cumulative sales (-8.6%).
Medium-Term Market Trend
The car market in Luxembourg between 2010 and 2019 hasn’t had any major fluctuations, with year-on-year variations moving between a -7.5% in 2013 and a maximum of +6.6% in 2014. The market reached a peak in 2019 at 54,749 sales.
The following year the pandemic arrived causing the car market in Luxemburg to collapse 17.6% reaching 45,097 sales by the end of 2020, lowest level of sales of the decade.
Post-Covid in 2021 sales grew back slightly reaching 47,156 (+4.6%). While in 2022 sales dropped 10.7% to 42,087.
The car market in 2023 will have to confront some issues within automotive industry that put negative pressure on sales: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and Governments push towards Evs, an expensive alternative for low income consumers.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Manufacturers Group.
