In 2024, the EU exported 5.4 million cars and imported 4.0 million cars. Compared with 2019, the number of exported cars dropped by 13.2% while the number of imported cars decreased by 3.0%.
Measured in value, in 2024, the EU exported €165.2 billion worth of cars and imported €75.9 billion, resulting in a trade surplus of €89.3 billion. Compared with 2019, exports rose by 17.7% (+€24.8 billion), and imports increased by 20.0% (+€12.7 billion).
The decreased number of exported and imported cars, along with the increased trade values, reflect the rise in prices between 2019 and 2024.
Main trade partners: US and UK for exports, China and Japan for imports
In 2024, the United States and the United Kingdom were the top destinations for EU car exports, with €38.9 and €34.3 billion, respectively. China followed with €14.5 billion, then Türkiye with €12.0 billion and Switzerland with €8.5 billion.
Looking at the top export partners between 2019 and 2024, the EU saw the biggest increase in car exports to Türkiye, rising by 364.1%. In contrast, exports to China experienced the largest drop, decreasing by 22.3%.
For car imports to the EU, China and Japan were the biggest suppliers, with €12.7 billion and €12.3 billion, respectively. The United Kingdom came third with €11.0 billion, followed by Türkiye with €9.1 billion and the United States with €8.4 billion.
From 2019 to 2024, the EU experienced the most significant rise in car imports from China, with an increase of 1591.3%. On the other hand, imports from the United Kingdom saw the largest decline, falling by 17.1%.
Source: Eurostat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
