Preliminary communication
https://doi.org/10.46672/aet.11.2.4
QUANTITATIVE ANALYSIS OF SUPPLY AND DEMAND ON THE EUROPEAN UNION AUTOMOBILE MARKET IN THE PERIOD FROM 2015 TO 2023
Sandra Šokčević
orcid.org/0000-0001-6913-9201
; Libertas International University
Abstract
The automobile market represents a dynamic and complex area of research within microeconomics. Despite extensive research into supply and demand in the automotive market, especially in the context of fuel prices, economic regulation, and technological innovations, there is still significant room for additional studies, particularly in the light of recent global and regional changes. The purpose of this paper is a microeconomic analysis of supply and demand in the automobile market
of the European Union from 2015 to 2023, with a focus on the impact of fuel prices, environmental regulations, and economic incentives on consumer behavior and market dynamics. The research encompasses these factors, providing a more comprehensive insight into the complex interrelationships between economic conditions and consumer behavior. The aim of the paper is to provide a comprehensive overview of current and future trends in the automobile market, to inform policymakers and industry stakeholders about optimal strategies for achieving a more sustainable and efficient market. The research approach is based on the collection of relevant statistical data and the application of appropriate quantitative
methods analyzing the supply and demand for passenger cars in the EU between 2015 and 2023. Descriptive statistics
and regression analysis were applied to process the statistical data, taking into account variables such as fuel prices and disposable income in relation to car demand. The research results emphasize the complexity of the automobile
market, which is facing multiple challenges but also opportunities for the development of innovative and sustainable products in line with European environmental goals. In general, it can be concluded that changes in fuel prices, environmental regulations, economic incentives, and the consequences of the COVID-19 pandemic together
shape the structure of supply and demand, as well as consumer preferences. While environmental regulations and economic incentives are key drivers in the transition to more sustainable transport, the pandemic has further accelerated the need for market adaptation to new challenges and shifting consumer preferences.
Keywords
quantitative analysis, automobile market, supply and demand, European Union
Hrčak ID:
340246
URI
Publication date:
4.12.2025.
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