Sunday, July 14, 2024
Home Latest European auto industry hammered as new sales hit record low | ...

European auto industry hammered as new sales hit record low | world | Messages

In 2021, just 9.7 million new cars were sold in the European Union, automakers reported on Tuesday. That number is the lowest since records began in 1990. Auto sales fell for six straight months in the second half of 2021, and sales in 2021 were 2.4 percent lower than in 2020 — a year who was paralyzed by Covid. The Association of European Automobile Manufacturers (ACEA) said in a statement: “This decline is the result of semiconductor shortages, which have slowed automobile production throughout the year and particularly in the second half of the year.”

Europe’s largest market, Germany, recorded one of the largest declines in 2021, down 10.1 percent.

The German automotive sector enjoyed a sustained recovery in early 2021, but a shortage of electronic chips needed to assemble cars and logistical issues quickly led to a drop in sales.

Belgium, the Netherlands and Denmark also reported sharp falls in car sales.

France sold just 1.6 million cars in 2021 – a figure close to where it was sold in 1975.

Italy’s car sales, which were severely affected by the pandemic in 2020, increased slightly by 5.5 percent.

Europe’s leading automakers suffered in 2021.

Sales of the manufacturer Volkswagen, the number one, fell by 2.4 percent compared to the previous year.

Skoda sales were also down 9.8 percent, while Audi’s were down 3.3 percent.

However, Hyundai-Kia’s sales rose 18.4 percent on the back of its offering of hybrid and electric cars.

Car registrations across the block fell 22.8 percent in December 2021, marking the sixth consecutive month of decline.

Latvia, Croatia and Slovenia were the only EU car markets to expand over the past month.

RELATED ARTICLES

Most Popular

Recent Comments