New car sales picked up slightly in Europe in August (+4.4%) after thirteen consecutive months of decline, the European Manufacturers Association (ACEA) announced on Friday.
Major EU markets posted sales figures above a disastrous August 2021, with Germany +3%, France +3.8%, Italy +9.9% and Spain +9, 1 %.
However, with 650,000 cars sold in August, the European market remains “well below its pre-pandemic level”, with strong sales recorded in 2018 and 2019, ACEA said in a statement.
Since the beginning of the year, a market down 12%
The summer had started badly: sales continued to fall by 15.4% in June and 10.4% in July.
With almost six million cars sold since the beginning of 2022, the market is down 11.9%.
Since the spring of 2021, the automotive market has been held back in Europe and the Americas by a series of logistical problems, including shortages of semiconductors. These electronic chips, produced mainly in Asia, are essential for the manufacture of phones and laptops, but also cars that increasingly contain electronics.
With chip supplies stabilizing, ACEA predicted a rebound in car sales in the second half of 2022, but the war in Ukraine dampened this optimism.
Most manufacturers still made big profits in the first half thanks to a rise in prices.
In August, the Volkswagen group rebounded 7.9% and Stellantis 10.6%.
The Renault group continued to fall (-7.2%) despite the good results of Dacia, and Hyundai registered a slight drop of 0.6%.
Source: BFM TV
