October continues on an uptrend for the third consecutive month, with 745,855 registrations, attributed to positive double-digit gains in three key markets - Germany (+16.8%), Italy (+14.6%) and Spain (+11.7%) respectively. 

France maintained steady growth at 5.5%.
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This number still stands nearly 290,000 units below pre-pandemic levels.

European manufacturers – Volksvagen group and Toyota Group – once again displayed the strongest YoY growth at +30.5% and 23.6% respectively, with Ford not far behind (+23.8%).

The forecast for November

We forecasted the European passenger car market by building 35 models composed of 28 leading indicators on data from 2003 to 2022. The indicator analysis strategy we selected was the coefficient search.

Indicio then weighted each model depending on performances at each horizon to create an aggregate forecast. 

We anticipate a downtrend with 772.23K passenger car registrations in Nov which represents a 8.3% YoY decrease compared to Nov 2021. 
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Find out how you can use the same methodology to forecast your own sales data by booking a free demo.