The cost of owning personal transport equipment — from bicycles to cars — varies sharply across Europe, according to new data from Eurostat. The findings reveal that Turkey remains the most expensive country in the region for cars and other personal vehicles, while North Macedonia and Slovakia offer the lowest prices.
Eurostat’s price level index compares the cost of personal transport equipment, including motor cars, motorcycles, and bicycles, across 36 European countries. The index sets the EU average at €100, allowing for easy comparison of price differences. Maintenance, repairs, and fuel are excluded from the calculation.
Turkey, Denmark Lead in High Prices
Turkey stands out as the costliest country for personal transport equipment, with prices averaging 36.4% higher than the EU average. This means a vehicle that costs €100 within the EU would cost €136.40 in Turkey. Although the figure is slightly lower than in 2021 — when it stood at €147.10 — Turkey still remains at the top of the list.
Within the European Union, Denmark ranks as the most expensive market, with vehicle prices 19.1% above the EU average. According to European Central Bank researcher Georg Strasser, Denmark’s high taxation rates are a key reason for this disparity. “The direct taxation of cars, including VAT and purchase-related fees, differs vastly within the EU. Denmark is a high-tax outlier, which explains its elevated price index,” Strasser told Euronews Business.
Other high-cost nations include Iceland (18.1%), the Netherlands (14.3%), Ireland (10.3%), and Switzerland (10.2%), all exceeding the EU average by more than 10%.
North Macedonia, Slovakia Offer the Best Value
At the other end of the spectrum, North Macedonia and Slovakia are the most affordable countries for personal transport equipment. Prices there are 12.3% and 11.4% below the EU average, respectively. Other countries where vehicle prices are at least 7% cheaper include Slovenia, Cyprus, the Czech Republic, Norway, Latvia, Montenegro, and Poland.
Among the EU’s four largest economies, Spain emerges as the most affordable, with prices 3.8% lower than the EU average. Germany is marginally higher at 0.4% above the average, while France and Italy are nearly identical to the EU baseline.
Taxes, Preferences, and Policies Shape Prices
Strasser explained that car prices vary across Europe due to differences in taxation, consumer preferences, and manufacturers’ pricing strategies. Automakers often “price to market,” adjusting prices by country based on income levels, brand popularity, and willingness to pay.
Taxation also plays a complex role, especially as governments adopt different incentives for electric and conventional cars. Countries that heavily tax petrol vehicles but exempt electric ones may appear more expensive overall in Eurostat’s index.
While the 2022 data highlights broad trends, experts note that evolving tax policies, consumer demand, and the growing electric vehicle market will continue to shape the price landscape of personal transport across Europe.
