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 14 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, JLR, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, 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, Senior Statistics Manager, email@example.com.
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About the EU automobile industry
- 13.0 million Europeans work in the automotive sector
- 11.5% of all manufacturing jobs in the EU
- €374.6 billion in tax revenue for European governments
- €101.9 billion trade surplus for the European Union
- Over 7% of EU GDP generated by the auto industry
- €59.1 billion in R&D spending annually, 31% of EU total