Car registrations in Europe -17%, worst result since 1993. But everything is fine and there is growth
The European auto market is down for the fifth consecutive month, with record low-level registrations in November reflecting the slow growth of an industry that is expected to emerge now of the logistical crises. Or it shows the real situation of the EU, poor, angry and unwilling to buy or invest.
Sales of new vehicles fell 17% to 864,119, the worst result of the month since the European Automobile Manufacturers Association began monitoring data in 1993. Car registrations are now up by just 0.8% over the year. to the first 11 months of last year. Basically it's like we're in lockdown.
Deliveries improved in November compared to October and the year-over-year decline was less severe than in the previous four months. This confirms the opinion of automakers, including Volkswagen AG, that they predicted an improvement in semiconductor supplies during the fourth quarter.
"As a potential recovery is still in its infancy and we may have more Covid-related impacts associated with the new Omicron variant, we remain cautious," wrote Tom Narayan, automotive analyst at RBC Capital Markets, in a report earlier this month. . Sales of battery electric vehicles continued to accelerate as automakers pursue carbon footprint reduction goals, he wrote.
However, Europe is not alone: data from China in November showed a decline in vehicle sales for the seventh consecutive month. Sales in China fell 9.1% from the previous year as the industry continued to struggle with what is now a long-lasting semiconductor shortage lasting more than a year.
According to Reuters, the country had total sales of 2.52 million vehicles in November, again driven by hybrid and electric vehicle sales.
Total new energy vehicles grew 121% to 450,000 units from the previous year, aided by the government pushing for further containment of pollution. New energy vehicles include battery-powered electric vehicles, plug-in gasoline-electric hybrids and hydrogen fuel cell vehicles, Reuters wrote days ago.
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The article Car registrations Europe -17%, worst result since 1993. But everything is fine and there is growth coming from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/immatricolazioni-auto-europa-17-peggior-risultato-dal-1993-pero-va-tutto-bene-e-ce-la-crescita/ on Sun, 19 Dec 2021 09:00:58 +0000.