European exports fell to 5.4 million vehicles in 2018
- European exports of vehicles from the European Union to outside Europe decreased from 5.6 million units in 2017 to 5.4 million units in 2018. This 3.6% decrease is mainly due to the decline in registrations in many foreign markets. Notwithstanding , these exports account for nearly 30% of European automotive production each year.
- In 2018, the United States remained the leading market for European exports, with 1.15 million vehicles in 2018 (-1.8% compared to 2017), ahead of China with 545,000 vehicles (-5.3%), Turkey with 291,000 vehicles (-37.6%) and Switzerland with 254,000 vehicles (-4.9%). These four countries alone account for more than 40% of European exports.
- The future of European exports seems uncertain because the United States threatens to overtax European cars sold on its territory. As a result, European exports to the United States are likely to collapse in the coming years if these taxes are introduced, even though the United States accounts for more than 20% of European exports.
- Imports into the European Union increased sharply in 2018 (+9.3%), to 3.65 million units, compared with 3.34 million units. The top three importing countries were Turkey (785,000 units; -0.6%), Japan (683,000 units; +6.0%) and South Korea (540,000 units; +4.2%).
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