Mon. Feb 22nd, 2021
EU new car registrations hit record low in January

New car sales in the European Union fell steeply in January, hitting a record low for the month as coronavirus-related restrictions weighed, according to data published Wednesday.

Across the EU, new car registrations–a reflection of sales–fell 24% to 726,491 vehicles in January, according to the European Automobile Manufacturers’ Association, or ACEA. The figure is the lowest total for January on record, with pandemic-related restrictions continuing to affect sales. Most markets also had one less business day than the previous January.

A majority of countries in the bloc posted double-digit decreases in January, with Spain hardest hit at a decline of more than 50% on the year. In Germany sales were down 31%, and those in Italy fell 14%. France was the best-performing major market with a drop of 5.8%, while in Sweden sales were up 23%, making it the only EU country where the figure was positive.

Meanwhile, all major European auto makers saw sales decline on-year in January. Volkswagen AG experienced a decline of 27%, while two other German companies, Daimler AG and Bayerische Motoren Werken AG, recorded drops of 14% each. Sales at France’s Renault SA fell 22%, and sales at recently-formed Stellantis NV dropped 26%, based on comparable figures from last year for its constituent companies Fiat Chrysler and Peugeot.

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