The auto market is continuing to experience a time of great difficulty. The data communicated by ACEA (European association of car manufacturers) for the month of October 2021 , highlight a 30.3% drop in registrations in the European Union compared to 2020. With 665,001 cars registered this is the worst result of the month of October since ACEA started to collect the data. As of October 2020, 953,603 cars had been registered.
Also considering the EFTA countries and the United Kingdom, in October there were 798,693 registrations equal to a decrease of 29.3% compared to last year. Wanting to make a quick comparison with 2019, 1,034,669 cars had been registered at the European Union level. Therefore, compared to two years ago, the decline is; even more; marked.
To penalize the performance of the European market a sum of factors including the effects of the pandemic and the chip crisis that is limiting availability; of new cars. The heavy declines of the last few months are nullifying the growth of 2021. In the first 10 months of the year, registrations of new cars in the EU still show an increase of 2.2% but at this rate, 2021 may be wondering with volumes lower than those of 2020 . This would be a very heavy figure, bearing in mind that in the first months of last year the auto market was essentially at a standstill due to the lockdown. Compared to 2019, the numbers are obviously very heavy. Considering UE pi & ugrave; EFTA countries and the United Kingdom, there is a decrease of 25.3% in the first 10 months of the year.
In October, all major markets in the European Union did particularly badly. Double-digit drops for Italy (-35.7%), Germany (-34.9%), France (-30.7%) and Spain (-20.5%). Only a handful of the markets showed a positive sign. Given the general trend, the data for the month at the European Union level automotive groups can only be strongly negative.
For example, the Volkswagen Group closed October 2021 with a decline of 44%. The Stellantis Group, on the other hand, closed the month with a -33%. The Renault Group is also bad with -31.7%. The only positive figure is that of the Hyundai Group which ends the month of October 2021 with a small increase of 3.7%.
At this point the last two months of the year will be very important. 39; year to understand how it will close 2021 the European market. The premises are certainly not positive given that the chip crisis continues to penalize the automotive sector. Furthermore, in Europe, fears of new limitations linked to the pandemic are reappearing in some countries. At the beginning of December the November data of the Italian market will arrive and it will be; an opportunity to make a new point of the situation.
[Data source: ACEA]
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