18 March, 2022
Posted by: Jorge Platero
Category: Faconauto News
According to ACEA data, passenger car sales contracted 6.7% in February, to 719,465 units.
The recovery in the European automotive sector remains unconsolidated. The latest data published by the ACEA reflects this clear negative trend. And it is that the vehicle registrations in the European Union continue to be burdened by disruptions in the supply chain.
Specifically, according to the data provided by the Association, passenger car sales contracted in February by 6.7%. Thus, 719,465 units were recorded in the last month. This is the weakest result in terms of volumes for the month of February since records began.
Based on shared figures, the region’s four key markets posted mixed results. Italy and France posted double-digit losses (-22.6% and -13.0% respectively), while Spain and Germany experienced growth (+6.6% and +3.2% respectively).
And how does 2022 progress in the first two months of the year? From January to February 2022, total new car registrations in the European Union decreased by 6.4% compared to the same period last year. Of the 4 largest markets, Italy experienced the largest drop (-21.1%), followed by France (-15.7%). In Germany (+5.6%) and Spain (+4.2%) there are slight increases that do not serve to reach the pre-pandemic figures.
The best-selling car brands in the EU
By brands, Volkswagen led European sales in the second month of the year, with 73,073 units, 15.9% less; followed by Toyota, with 48,413 units, 3.2% more; Peugeot, with 46,825 units, 25.1% less; Mercedes-Benz, with 40,624 units, 2.4% more; and Renault, with 40,346 units, 13.6% less.
A production weighed down by the conflict in Ukraine
The truth is that chip shortages are expected to cut global production by more than 5 million vehicles through 2023, according to S&P Global Mobility. In this way, the entity thus reduces its estimates for 2022 and 2023 by 2.6 million vehicles for both years. This drop in production is fundamentally due to the outbreak of the conflict in Ukraine, which will cause a rise in the price of raw materials and a shortage of some materials such as palladium.
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