Luxembourg 2023. Car Market Rebounds (+16.1%)

The 2023 BMW iX5 Hydrogen Concept
The 2023 BMW iX5 Hydrogen Concept

Luxembourg Car Market increases steadily. Following a negative previous year, in 2023 the market rebound with 48,857 sales (+16.1%). Volkswagen is still on top while Tesla was up into 8th place (+130.6%). 

Market Trend and Outlook

The Luxembourg Car Market in 2023 showed a positive recovery by being up 16.1% on the previous year, totalling 48,857 registrations. December reflects this trend with 3,335 new sales (+6.9%).

Looking at cumulative data up to December 2023 brand-wise, Volkswagen is still the leader with 5,826 sales (+17.4%), followed by BMW -up 2 spots- with 4,911 (+31.0%), Mercedes -down 1 spot- at 4,180 sales (+3.0%) and Audi -down 1 spot- with 3,918 sales (+3.1%).

In 5th ranks Skoda -up 1 spot- at 2,882 sales (+48.8%), followed by Peugeot -down 1 spot- at 2,505 (-24.8%) and Renault -up 1 spot- in 7th with 2,421 registrations (+55.0%).

Tesla rises 12 spots into 8th with 1,725 sales (+130.6%), followed by Kia -up 8 spots- in 9th at 1,408 (+57.8%) and finally Opel -down 3 spots- in 10th position with 1,392 cumulative sales (-11.0%).

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.

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