7:53 am, July 18, 2022
New car registrations in the EU slumped by over 15 per cent in June as supply chain problems and rising inflation continued to dampen sales.
Latest figures from the European Automobile Manufacturers’ Association (ACEA) reveal June saw 886,510 cars registered in dealerships in European Union states – a 15.4 per cent fall on June 2021.
When the UK and European Free Trade countries are added, the overall number of registrations came to 1,066,137 – a 16.8 per cent decline.
It means that across the EU the month was the worst June for volume since 1996, mirroring UK figures.
German giant Volkswagen was the worst-hit carmaker, with registrations falling by 24.4 per cent (EU, EFTA and UK combined).
Stellantis didn’t fare much better, as it recorded a fall of 16.5 per cent.
Analyst LMC Automotive said in an update earlier this month that it didn’t expect the industry to ‘overcome supply constraints anytime soon’.
Bloomberg Intelligence, however, believes the UK and Germany may return to growth in July due to easier year-on-year comparisons.
