In 2024 the US remained the largest purchaser of European cars buying in total up to €38.9 billion worth of cars. The figure is slightly lower than 2023 figures at €40 billion. The UK followed suit with up to €34.3 billion in EU car imports, and then China with €14.5 billion, followed by Türkiye (€12.0 billion) and Switzerland with €8.5 billion of imports.
In turn, the US sold the EU only up to €8.4 billion, significantly higher than 2023 figures. Turkey increased EU car imports by 364% while China decreased its imports of EU cars by 22%.
According to Eurostat:
“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).”
A 25% tariff on EU car exports to the US (including car parts) will be effective as of next Thursday.
Newsroom
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