The EU Car Market Fall 6.7 percent !

According to report, European Union passenger car's registrations fell by 6.7 percent in February, 2022. A global chip shortage that began early last year affected Hyundai, General Motors, Ford Motor , Toyota and many other automakers, all of which had their plants shut down to varying degrees last year because of chip shortage, and the car sales has also been affected.

And figures released by the European Automobile Manufacturers Association show that the impact of chip shortage on the automotive industry continues. As a result of the chip shortage, European passenger car registrations in February and the first two months of this year fell significantly from a year earlier.

According to the European Automobile Manufacturers Association, 719,465 passenger cars were sold in the European Union in February, with registrations of new passenger cars down 6.7 percent  from the same month last year. In terms of registrations, it was the lowest February on record.

Although passenger car sales fell across the European Union in February, it increases in some countries, with Germany increasing by 5.6 percent and Spain increasing by 4.2 percent . In France and Italy, however, passenger car sales fell sharply in February from a year earlier, decreasing by 21.1 percent  in Italy and 15.7 percent  in France.

 

In the EU as a whole, passenger car sales in the first two months of this year were down 6.4 percent  from a year earlier. Among the four major markets, Italy was down 22.1 percent , France decreased by 15.7 percent , Germany decreased by 5.6 percent and Spain decreased by 4.2 percent .

As the effects of the chip shortage continue to affect the auto industry, it is unclear when the situation will be better. Let's keep following up.

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