On Nov. 18, the European Automobile Manufacturers' Association (ACEA) said new car registrations in Europe fell 29.3% in October from a year earlier to 798,693 vehicles, with cumulative sales for the first 10 months up just 2.7% from a year earlier. While Car sales in Europe fell for the fourth consecutive month to a record low for the period, there were signs that the worst of the chip crisis was finally over.
In terms of market, In October, New car registrations in Europe were 798,693, down 29.3% year on year, with double-digit sales declines in most European car markets, including the five major markets: Italy (-35.7 percent), Germany (-34.9 percent), France (-30.7 percent), The United Kingdom (-24.6 percent) and Spain (-20.5 percent).
In the first October, 9,960,706 new cars were registered in Europe, up 2.7 percent from a year earlier. Although Sales in Europe fell in October due to the lingering effects of the semiconductor supply crisis, a large increase in Sales in Europe between March and June ensured the cumulative gains. Similarly, sales in Italy (+12.7%), Spain (+5.6%), France (+3.1%) and the United Kingdom (+2.8%) maintained growth in the five major European markets, while cumulative sales in Germany in the first 10 months were down 5.2% compared with the same period last year.
Volkswagen and Ford fell more than 40% in October as European car sales hit record lows
In Terms of car companies, all automakers except Hyundai Group saw their sales in Europe decline in October from a year earlier. Volkswagen Group, Europe's biggest carmaker, was the hardest hit, with sales plunging nearly 42 per cent, mainly because of a slump in all vw brands except Porsche, with vw, Audi, Skoda and Seat falling by more than 40 per cent.
Daimler, Stellantis and Renault sales fell by almost a third; Sales of BMW, Toyota and Volvo cars in Europe fell more than 20 per cent. Hyundai group's sales rose for two consecutive months, overtaking Renault to become Europe's third-largest carmaker by sales, while other carmakers suffered a general decline in European sales.
Stellantis and Volkswagen remained the top two carmakers by sales in Europe, delivering 331,175 vehicles together, accounting for 42% of total European sales. However, Vw was outsold by Stellantis by more than 40,000 units in the same period last year.
Among the big carmakers, Ford and Renault were the hardest hit in the first October, with sales falling by about 15 per cent and 11 per cent respectively. The most profitable carmaker by priority production models and raise prices, through the chip supply crisis, therefore, there are eight car companies in an upward trend in sales in Europe, however, Volkswagen, Stellantis, Volvo cars and BMW have risen less than 10%, if the gains continue to fall, this several car company's annual sales may be difficult to maintain the trend of rising.
Hyundai's European sales rose by about 156,000 vehicles in the first 10 months of this year from the same period last year, the biggest gain for any auto maker in Europe, helped by the group's strong performance in the European market this year, with both its Hyundai and Kia brands up more than 20%.
"November car sales in Europe are likely to improve as chip supply constraints ease," Bloomberg Intelligence analyst Michael Dean said in a note. "Many automakers have already completed partial assembly of their vehicles, so they can quickly complete complete vehicle assembly once semiconductor supply improves."
While November sales in Europe are likely to improve, one market research firm predicts they will be lower this year than last, after six months of lower sales through October.
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