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Emergency braking on the car market
Europe's car market came to a screeching halt in the fall after a brilliant first half of the year. After minus 30.3 percent in October, new registrations across the EU have only increased slightly since the beginning of the year. Austria can only dream of this.
Emergency braking on the car market
665,001 cars – that’s how many cars were newly registered in the EU in October. That was a decrease of no less than 30.3 percent compared to the previous year. With these 665,001 new cars sold, October 2021 was even the worst October since records began. And it was the fourth month in a row with declining numbers.
So much for the bad news. The good news is that year-to-date, i.e. since the beginning of the year, there is still an increase: In the first ten months of the current year, the number of new registrations in the EU is 2.2 percent above the comparable period of the previous year. People are still benefiting from the strong growth rates achieved in the first half of the year.
Germany disappointed
Of the four major markets, three are in plus and above the EU average: France has recorded growth of 3.1 percent in the year to date, Spain 5.6 percent and in Italy new car sales are up by 12.7 percent. Only Germany cannot keep up: sales figures here are more than five percent below the previous year's value.
A key reason for the overall subdued figures - after all, 2020 was already a difficult year, which is why the bar is not exactly high - is the ongoing delivery difficulties due to the semiconductor bottlenecks. In any case, the latest development is sobering, not to say dramatic: in the first half of the year, the overall market was still up 25.2 percent - now it is only 2.2 percent.
In Austria everything is a bit worse: in October the market collapsed by a disproportionate 39.2 percent, so that over a 10-month period there was already a loss of 0.1 percent.