New vehicle sales in Europe hit lows in February

The first months of 2022 continue to be disastrous for new vehicle sales in Europe, with manufacturers still hit hard by supply problems, according to figures released this Thursday.

With 719,465 units sold in the European Union (EU), manufacturers recorded the worst month of February since the statistical series began, in 1990. Sales fell by 6.7% compared to the already very low figures of February 2021, said the European Automobile Manufacturers Association (ACEA).

Among the main markets, France and Italy recorded double-digit declines, 13% and 22.5% respectively, as well as Belgium and Poland (-11.9% and -11.2%), while Germany and Spain rebounded slightly compared to February 2021 (+3.2% and +6.6%).

Close to the EU, the British market continued to straighten after months of declines, with sales increasing 15% year-on-year.

Undermined in 2020 by the covid-19 pandemic, the automotive market has been paralyzed in Europe and America since spring 2021 due to a shortage of semiconductors. These electronic chips, manufactured mostly in Asia, are indispensable for mobile phones and laptops, and also for cars.

ACEA expected an increase in car sales in the second half of 2022 with a stabilization of chip supply, but the war in Ukraine could affect the situation starting in March.

As for automotive groups, Volkswagen recorded a year-on-year decline in sales of 11.5% in February, especially its main brand and Skoda.

As for Stellantis, it was even more affected (-19.5%), with poor results in Peugeot and Fiat, mainly.

The Renault group fell by 4%. Sales of its main brand fell by 13.6%, but Dacia performed well.

Hyundai-Kia (+21.3%) and Toyota (+3.1%) won market shares. BMW stabilized at -1.5% and Mercedes at +1.1%.

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