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Financial News: Europe Passenger Car Registrations Fall Further In June

Europe Passenger Car Registrations Fall Further In June

07/15/2022 - 03:17:00 (RTTNews)

(RTTNews) - European passenger car registrations declined for the twelfth successive month in June, as supply chain issues continue to hurt production, the European Automobile Manufacturers' Association, or ACEA, said on Friday.

Registrations of new passenger cars decreased 15.4 percent year-over-year in June, faster than the 11.2 percent fall in May.

The number of vehicles registered across the EU region totaled 886,510 units in June compared to 1.04 million units produced in the corresponding month last year. Moreover, this was the lowest total for the month of June since 1996.

All four major EU markets recorded losses in June.

Germany posted the largest decline of 18.1 percent. Italy also registered a double-digit fall of 15.0 percent and France logged a 14.2 percent decrease.

At the same time, registrations in Spain logged a more modest decline of 7.8 percent.

During the first half of this year, total car registrations in EU dropped 14.0 percent as compared to the same period last year.

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