Switzerland: Passenger Car Market 2024

Passenger Car Market Size in Switzerland

In 2022, the Swiss passenger car market increased by X% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, showed a pronounced downturn. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Passenger Car Exports

Exports from Switzerland

In 2022, exports of passenger cars from Switzerland fell rapidly to X units, with a decrease of X% compared with the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, passenger car exports reduced sharply to $X in 2022. In general, exports, however, showed strong growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

Serbia (X units), Poland (X units) and Libya (X units) were the main destinations of passenger car exports from Switzerland, together accounting for X% of total exports. Bulgaria, France, Germany, Niger, Ukraine, Bosnia and Herzegovina, Albania, North Macedonia, Hungary and Moldova lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Albania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for passenger car exported from Switzerland were Germany ($X), Serbia ($X) and France ($X), together comprising X% of total exports. Poland, Bulgaria, Bosnia and Herzegovina, Moldova, Ukraine, Albania, North Macedonia, Libya, Hungary and Niger lagged somewhat behind, together comprising a further X%.

Albania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average passenger car export price amounted to $X per unit, rising by X% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, passenger car export price increased by X% against 2016 indices. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Libya ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Passenger Car Imports

Imports into Switzerland

In 2022, purchases abroad of passenger cars increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, passenger car imports expanded notably to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest passenger car supplier to Switzerland, accounting for a X% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), threefold. Spain (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Spain (X% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to Switzerland, comprising X% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Spain (X% per year).

Import Prices by Country

The average passenger car import price stood at $X per unit in 2022, reducing by X% against the previous year. Overall, the import price, however, posted a noticeable expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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