Passenger car registrations: -11.9% eight months into 2022; -10.4% in July and +4.4% in August
Brussels, 16 September 2022 – In July 2022, new car registrations in the European Union decreased again (-10.4%), despite an already low base of comparison caused by the ongoing semiconductor shortage.
In July 2022, new car registrations in the European Union decreased again (-10.4%), despite an already low base of comparison caused by the ongoing semiconductor shortage. All the four major EU markets performed worse than one year ago, with Germany (-12.9%) and Spain (-12.5%) posting the strongest declines.
In August, the European new car market finally returned to growth (+4.4%), bringing an end to thirteen months of consecutive decline. However – with 650,291 units registered – this result remains far below pre-pandemic levels. All the key EU markets positively contributed to the region’s growth, with solid gains seen in Italy (+9.9%), Spain (+9.1%), France (+3.8%) and Germany (+3.0%).
Eight months into 2022, overall volumes contracted by 11.9% to reach nearly 6 million new passenger cars sold. Despite the recent improvement, earlier declines weigh negatively on the cumulative performance. As a result, the four key markets have all faced losses so far this year: Italy (-18.4%), France (-13.8%), Germany (-9.8%) and Spain (-9.4%).
In August, the European new car market finally returned to growth (+4.4%), bringing an end to thirteen months of consecutive decline.
- The European Automobile Manufacturers’ Association (ACEA) represents the 16 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, Jaguar Land Rover, Mercedes-Benz, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars, and Volvo Group.
- Visit www.acea.auto for more information about ACEA, and follow us on www.twitter.com/ACEA_auto or www.linkedin.com/company/ACEA/.
- Contact: Francesca Piazza, Statistics Manager, email@example.com.
Interested in ACEA press releases?
Receive them directly in your inbox!
About the EU automobile industry
- 12.7 million Europeans work in the auto industry (directly and indirectly), accounting for 6.6% of all EU jobs.
- 11.5% of EU manufacturing jobs – some 3.5 million – are in the automotive sector.
- Motor vehicles are responsible for €398.4 billion of tax revenue for governments across key European markets.
- The automobile industry generates a trade surplus of €76.3 billion for the EU.
- The turnover generated by the auto industry represents more than 8% of the EU’s GDP.
- Investing €58.8 billion in R&D annually, the automotive sector is Europe’s largest private contributor to innovation, accounting for 32% of total EU spending.