autoevolution
Car video reviews:
 

Europe Car Sales Drop to the Lowest Point Since 1996

In the month of June of this year, the European car market has seen the lowest number of newly registered vehicles since the year of 1996. The number hovers at about 1.06 million vehicles and the concerning news is that some car manufacturers have seen their sales drop by as much as 50%, according to data extracted from Europe’s automobile association last Friday.
Car Factory 6 photos
Audi FactoryAudi FactoryAudi TransportAudi FactoryCar Factory
Among the major players in the car market, the carmaker that appears to have taken one of the biggest hits is the Volkswagen Group, who saw their sales drop almost a quarter compared to the same month of last year. However, there is one company that had it worse, with Stellantis seeing it’s biggest drop so far with the sales plummeting 21.1%, placing them into a dangerous territory.

Smaller brands are not safe from this downward trend, with Volvo’s new registrations seemingly falling off a cliff with the Swedish company seeing a drop of an eyewatering 47.9% in June and 28.5% in the first half of 2022. Jaguar Land Rover, the subsidiary of the Indian behemoth Tata Motors, saw a less alarming fail in June, with only 13.2% but took the biggest hit over the fist half of the year, with a decrease of almost 35%.

Inflation caused by the unstable and precarious situation the world finds itself in, combined with some countries seeing a rise in COVID cases, supply chain problems and the ongoing chip shortage are just a portion of the issues the carmakers in the region are having to deal with, causing them to register an entire year of steady decline month after month.

Germany, France, Italy and Spain, which are the largest markets for automobiles in the European Union show a steady decline in vehicle registrations. Even brands once thought untouchable through their prestige and appeal to rich people, such as BMW, have seen their global sales taking a turn for the worse, bringing an uncertainty over the entire car market.

 
 
 
 
 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories