The European new car market continues to struggle with the crisis. After last year’s fall in registrations due to covid measures, a production crisis occurred this year due to a lack of components. This has been reflected in registration statistics for several months, which was confirmed in October. Last month, only 798,693 cars were registered in Europe, 29.3% less than a year ago. This is according to statistics from the European Automobile Manufacturers Association (ACEA).
In the first ten months of this year, however, new car sales in the EU rose by 2.2 percent year on year to about 8.2 million. The recent decline in sales due to the ongoing semiconductor supply crisis has helped offset the strong growth from the beginning of the year.
The largest European car markets recorded double-digit losses in October, as did most other markets. 35.7 percent fewer cars were sold in Italy, 34.9 percent in Germany, 30.7 percent in France and 20.5 percent in Spain.