The European market is falling again

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Sales of new cars in Europe are on a downward trajectory again, and after several months of recovery, deliveries are no longer at the level of last year’s depressive results, which were a consequence of the corona virus pandemic.

The number of new car registrations decreased by 18% in August and by 24% in July compared to the same months last year, the ACEA industry association said.

Car production has been hampered by a global shortage of microchips, and executives at the Volkswagen Group, Daimler and the BMW Group have warned that the crisis could go deep into next year.

Insufficient number of cars in stock has led to higher prices for four-wheelers, and manufacturers have begun to direct the limited number of semiconductors available to them to the models that bring them the most profit, as the number of vehicles that can finish is limited.

Market analysts note that any eventual recovery in demand for new cars due to the improving economic situation is currently hampered by a shortage of microchips.

July and August have been the worst months in Europe for the car industry since the end of the economic crisis in the eurozone in 2013.

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Source: Nacionalna Klasa by www.nacionalnaklasa.com.

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