Another heavy month for the car that in October in Europe (EU + Efta + UK), which lost 29.3% of registrations compared to 2020, 34.3% compared to 2019, the year that preceded the pandemic. This is the fourth month in a row with a negative result. A trend strongly influenced by the supply problems of semiconductors in the whole area, a factor that has determined production stops in many plants. From the beginning of the year, the recovery compared to 2020 was only 2.7%, in absolute value it is about 6 thousand more cars registered compared to a period characterized by lockdowns and heavy restrictions on circulation due to Covid-19.
Decline in all markets except Ireland and Cyprus
Registrations fell in all markets except Ireland and Cyprus, and if you look at the results in the January-October period, it turns out that Germany itself is down by more than 5% compared to registrations in 2020. In the month Germany, Italy and France are worse off than the market, Spain and the UK recorded drops of 20.5 and 24.6% respectively.
A general weakening of consumer confidence is also weighing on the market, linked to the worsening of the pandemic, an increase in inflation and in some countries also by tax increases for the sector as noted by the Centro Studi Promotor of Gian Primo Quagliano. With the result of an October month which in the historical series surveyed by Acea, the Association of European car manufacturers, is the weakest ever.
Volkswagen, Stellantis, Renault are down; in contrast to Hyundai
Volkswagen, the first group by volume in Europe, lost 41.9% of registrations in the month, with all brands in negative territory except Porsche, but maintained a positive trend (+ 2.9%) in the period January-October. Stellantis loses 31.6% in October, although it remains + 3.2% over the period. Renault Group registrations fell by 31.5%, accumulating a gap of 10.8% on registrations in 2020 since the beginning of the year. Hyundai bucking the trend, with registrations in the month up by 6.7%, by 22.3% from January to October.
Volumes also lost BMW (-22.1%), recovering over the entire period compared to 2020, and the Daimler Group (-34.3%), below the overall volumes from January to October by 8.9% due to fault of Mercedes registrations, down 11% from the beginning of the year. Toyota recorded a negative month but like Hyndai recorded a recovery of over 15% on 2020 since the beginning of the year.