Germany, Italy, France and Spain, the four main car manufacturing markets in the community bloc, experienced significant declines.
The number of new cars registered in the European Union (EU) continued with its downward trend in June to reach levels not seen since June 1996, according to the latest data from the European Automobile Manufacturers Association (EAMA), published on July 15.
Specifically, 886,510 new vehicles were registered in said month, which represents a fall of 15.4% compared to last year’s figures. In addition, Germany, Italy, France and Spain, the four main markets for car manufacturing in the community bloc, experienced drops of 18.1%, 15%, 14.2% and 7.8% respectively.
Across Europe in general, including Iceland, Liechtenstein, Norway, Switzerland and the United Kingdom, the same trend was observed , with some 1.06 million new cars registered in June. This is a reduction of more than 200,000 units compared to June 2021.
As for the automotive companies, the German group Volkswagen came out as the one that lost the most , since it sold almost a quarter less than in June of last year. Meanwhile, the giant Stellantis, manufacturer of Fiat, Chrysler or Peugeot, among other brands, experienced a drop of 21.1% in the first six months of the year.
Likewise, the sales of other brands with less market share such as Volvo or Mazda decreased by 47.9% and 45 .9% respectively. For its part, the group Jaguar Land Rover suffered a drop of 13.2% in June, but in terms of so far this year the registration of vehicles in this group plummeted by 34.7% .
The causes of the drop include disruptions in supply chains, high inflation rates, the growing number of covid-19 cases in some countries in the region and the persistent shortage of chips, highlights Reuters.