EU New Car Sales Plummet     

New car sales across the EU have fallen by more than 15%, thanks to ongoing supply chain problems and inflation, according to the European Automobile Manufacturers’ Association (ACEA).

With 886,510 units registered, this is the lowest month of June on record (in terms of volume) since 1996. All four major EU markets contributed to the fall. Germany posted the strongest decline (-18.1%), followed by Italy (-15.0%) and France (-14.2%). Spain on the other hand saw a more modest decline (-7.8%).

Over the first half of 2022, new car registrations in the EU shrank by 14.0% compared to one year earlier, totalling around 4.6 million units. All of the region’s major markets recorded double-digit drops: Italy (-22.7%), France (-16.3%), Germany (-11.0%) and Spain (-10.7%).