JPM Autos Tracker: European car market May’26 Update: Positive Momentum as Volume Increase by 3% Y/Y and Ongoing Market Share Growth for Chinese OEMs

Research evidence excerpt

JPM Autos Tracker: European car market May’26 Update: Positive Momentum as Volume Increase by 3% Y/Y and Ongoing Market Share Growth for Chinese OEMs

J P M O R G A N Europe Equity Research

08 June 2026

JPM Autos Tracker: European car

market

May’26 Update: Positive Momentum as Volume

Increase by 3% Y/Y and Ongoing Market Share Growth

for Chinese OEMs

Passenger car sales across the five major European countries were up ~3% y/y European Autos & Auto Parts

ACto 791k units in May’26, but still remained down ~24% vs pre-COVID -19 Jose M Asumendi

levels of May’19. Volumes were up ~4% y/y in France, up ~7% y/y in the UK, ~8% (44-20) 7742-5315

y/y in Italy, flat y/y in Germany and down ~1% in Spain. jose.m.asumendi@jpmorgan.com

J.P. Morgan Securities plc

All eyes on market share. Chinese OEMs have expanded their market share in Akshat Kacker, CFA

Western Europe from about 7.5% in May’25 to around 12.9% in Apr’26 (up almost (44-20) 7134-6775

akshat.kacker@jpmorgan.com

540 basis points).Tesla sales were up again by ~183% y/y compared to May’25, J.P. Morgan Securities plc

marking the fourth strong month of rebound after 13 consecutive months of y/y

Piyush Singla

declines. VW has maintained solid market share over the past four years. The focus (91-22) 6157-3324

is on STLA having lost ~3% of market share in Europe over the past four years and piyush.singla@jpmorgan.com

looking forward to Renault coming from a very strong product cycle which has J.P. Morgan India Private Limited

helped the firm maintain share the past few years.

If you wish to have the data used to support this note, please reach out to us

at: jose.m.asumendi@jpmorgan.com.

May'26 Private consumer demand remains the main driver of car sales in Europe.