Capitol Times Media
Fall in Europe car sales, industry struggles with shortage of semiconductors
According to a recent report by an industry lobbying association, European car sales fell in January as suppliers supplied key components, such as semiconductor chips.
According to the European Automobile Manufacturers' Association (EAMA) report, registrations of new passenger cars in the EU fell in January 2022 due to the continued shortage of semiconductors in the region.
While the 2021 January total (measured in volume) was a record low, the registrations for cars in the first month of this year were 682,596, which marks a new low for the first month.
Central and Western Europe, however, saw distinct contrasts, with the former reporting an increase in car registrations while the latter experienced a decline.
Central Europe saw a rise in car registrations of 72.6% in Slovakia, followed by 55.5% in Romania, and 10.2% in Poland. Car registrations fell by 19.7 percent in Italy and 18.6 percent in France in Western Europe. Among the major nations in the region, only Germany registered an impressive growth of 8.5 percent while Spain saw a modest one percent gain.
As compared to January 2021, Volkswagen Group registrations of new passenger cars in the European Union (EU) dropped 7.0 percent in January 2022. Stellantis, Renault, BMW, Mercedes Benz, Ford, Volvo, Nissan, and Jaguar Land Rover were among the brands that reported losses. Positive growth was reported by Korean and Japanese brands such as Honda, Hyundai, Toyota, Mazda, and Mitsubishi.
During the year, Germany sold 2.6 million passenger vehicles, while France sold 1.4 million (down from 1.7 million in December), Italy sold 1.2 million units (lowest level since May 2020) and Spain sold 600,000 units per year (down from 1.1 million in December).
18 Feb 2022