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Financial News: Europe New Car Registrations Decline Worsens In October:

Europe New Car Registrations Decline Worsens In October: ACEA

11/18/2021 - 02:03:00 (RTTNews)

(RTTNews) - European new car registrations fell at a faster double-digit pace in October as the shortage of semiconductors weighed on auto production, the European Automobile Manufacturers' Association, or ACEA, said on Thursday.

Passenger car sales plunged 30.3 percent year-on-year, marking the fourth consecutive fall this year. Sales dropped 23.1 percent in September.

With 665,001 units sold across the region, this was the weakest result in volume terms for the month of October since records began, the Brussels-based agency said.

Most EU markets suffered double-digit losses, including the four largest ones. Sales in Italy fell 35.7 percent and those in Germany declined 34.9 percent. France logged a 30.7 percent decrease in car sales and Spain registered a 20.5 percent slump.

During the January to October period, new car registrations advanced 2.2 percent from a year ago, totaling around 8.2 million units.

Despite the recent fall in sales due to the ongoing impact of the semiconductor supply crisis, substantial gains earlier in the year helped to keep cumulative volumes in positive territory, the ACEA noted.

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