EU Car Trade Surplus Hits €89.3 Billion In 2024 Amid Shifting Market Dynamics

The European Union’s car trade landscape has undergone significant shifts in recent years. In 2024, the EU exported 5.4 million cars and imported 4.0 million, marking a 13.2% drop in exports and a 3.0% decline in imports compared to 2019. Despite the decrease in volume, the value of trade has surged, reflecting rising car prices.

In monetary terms, the EU exported €165.2 billion worth of cars while importing €75.9 billion, generating a trade surplus of €89.3 billion. This represents a 17.7% increase in export value (+€24.8 billion) and a 20.0% rise in imports (+€12.7 billion) over five years.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Key Trade Partners: U.S. And U.K. Drive Exports, China Leads In Imports

The United States (€38.9 billion) and the United Kingdom (€34.3 billion) remained the top destinations for EU car exports in 2024, followed by China (€14.5 billion), Türkiye (€12.0 billion), and Switzerland (€8.5 billion). However, trade patterns have shifted dramatically since 2019:

Exports to Türkiye soared by 364.1%, marking the most significant increase.
Exports to China dropped by 22.3%, highlighting changing demand in the region.

On the import side, China (€12.7 billion) and Japan (€12.3 billion) were the EU’s largest car suppliers, followed by the U.K. (€11.0 billion), Türkiye (€9.1 billion), and the U.S. (€8.4 billion). The most striking trend:

Imports from China skyrocketed by 1591.3%, reflecting the country’s growing footprint in the European auto market.
Imports from the U.K. declined by 17.1%, signaling a shift in post-Brexit trade flows.

What’s Driving The Shift?

The stark contrast between the declining number of cars traded and the rising overall value points to inflation, higher production costs, and a shift toward premium and electric vehicles. With global trade tensions, evolving consumer preferences, and regulatory changes, the EU’s car market continues to evolve—raising questions about how the industry will navigate the next five years.

The Future Forbes Realty Global Properties

Alshaya Group Secures Exclusive Starbucks Operating Rights In Greece And Cyprus

by THEFUTURE.TEAM

April 9, 2026

Alshaya Group has acquired the operating rights for 48 Starbucks stores in Greece and Cyprus, transferring management from the Marinopoulos family after a 24-year partnership. The deal expands Alshaya’s presence as a licensed operator of the brand in the region.

Strategic Expansion And Market Consolidation

Under this new arrangement, Alshaya will oversee 30 stores in Greece through its newly established entity, Alshaya Hellas SMSA, and 18 outlets in Cyprus under Murgab Cyprus Ltd. Employing approximately 500 individuals across both markets, the transition is expected to enhance operational efficiencies and accelerate growth within the region.

Leadership Transition And Continued Partnerships

A 24-year partnership with the Marinopoulos family concludes with this transaction, marking the end of Starbucks’ initial expansion phase in both markets. Yiannis Marinopoulos, former chief executive, is expected to return to the family business. Starbucks said it will continue working with Alshaya as its regional licensed partner.

Vision For A Dynamic Future

Saleh Alshaya, President of Starbucks at Alshaya Group, said the company plans to expand its store network and product offering in Greece and Cyprus. Plans include integration of new teams and continued development of the brand’s presence across both markets.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Regional And Global Business Significance

Duncan Moir, President of Starbucks EMEA, said Alshaya will continue expanding the brand’s presence in the region as its largest licensed partner. He referred to the company’s existing operations and scale across international markets.

Alshaya opened its first Starbucks store in Kuwait in 1999 and now operates more than 2,000 locations across 13 countries, serving over one million customers daily. The addition of Greece and Cyprus extends its footprint in Europe.

Jacqueline Delpippo, Business Manager for Starbucks Greece and Cyprus at Alshaya Group, will oversee the transition process. The company said operations will continue without disruption during the handover.

Breaking news