20.Apr .2022 20:00

Car sales in the eu 20.5% down in March

Car sales in the eu 20.5% down in March
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In March 2022, passenger car registrations in the European Union continued to decline (-20.5%), with 844,187 units sold. The ongoing supply chain disruptions, further exacerbated by Russia’s invasion of Ukraine, negatively affected car production. As a result, most countries in the region recorded double-digit drops in sales, including the four key markets: Spain (-30.2%), Italy (-29.7%), France (-19.5%) and Germany (-17.5%), reads the recent data of the the European Automobile Manufacturers’ Association (ACEA). 

During the first quarter of 2022, new car registrations fell by 12.3% compared to the same period last year, counting 2,245,976 new passenger cars in total. All four of the major EU markets saw decreases: Italy (-24.4%), France (-17.3%), Spain (-11.6%) and Germany (‑4.6%).

Some data from EU automobile industry: 12.7 million Europeans work in the auto industry (directly and indirectly), accounting for 6.6% of all EU jobs.

11.5% of EU manufacturing jobs – some 3.5 million – are in the automotive sector.

Motor vehicles are responsible for €398.4 billion of tax revenue for governments across key European markets.

The automobile industry generates a trade surplus of €76.3 billion for the EU.

The turnover generated by the auto industry represents more than 8% of the EU’s GDP.

Investing €58.8 billion in R&D annually, the automotive sector is Europe’s largest private contributor to innovation, accounting for 32% of total EU spending.