Sales of new cars in the EU fell by more than 20%, but some automakers came out on top

New car registrations went down more than 20 percent across the European Union in April, one of the worst months since the peak of the Covid-19 pandemic in 2020.

Data from the European Automobile Manufacturers Association (ACEA) show that 684,506 new cars were sold in the European Union last month, compared to 862,443 units sold in April 2021. Including sales of the European Free Trade Association (EFTA), such as Iceland, Norway, and Switzerland, plus the addition of the United Kingdom to the mix, total sales peaked at 830,447 by April. This is 20.2% less than 1,040,027 cars sold in the same month last year in the region.

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From January to April, 2,930,366 new cars were sold in the EU. This is also a significant drop of 14.4 percent from the 3,422,714 registrations recorded in the first four months of 2022.

Some carmakers have suffered more than others across Europe. For example, last month sales of Stellantis models fell 32.1% from 202,306 units to 137,455. Similarly, Volkswagen Group sales fell 27.1% from 230,038 to 167,786.

Elsewhere, Renault reported sales of 18.2 percent and Toyota 3.6 percent. BMW The group was down 20 percent and Mercedes-Benz was down 21.2 percent from 53,088 to 41,841. Ford also reported a 18.1 percent drop in sales in April, while Volvo reported a 20.7 percent drop , and Mazda – about a huge reduction of 32%.

Winners

However, some carmakers managed to increase sales in April. Perhaps most notable was the Hyundai Group, whose sales rose 10.8 percent from 65,073 to 72,095. Kia reported growth of 14.7 percent, while Hyundai itself recorded sales growth of 6.5 percent. Similarly, Mitsubishi and Honda reported sales growth of 11.9% and 33% respectively, but with only 5,629 Mitsubishi models and 4,077 Honda models sold, they remain relatively small players.

Problems with supply chains and inflationary pressures are major factors in the reduction of new car registration numbers across Europe. In LMC Automotive Weather Forecasters reduce scores for Western European passenger car sales this year less than 10 million units.

“Global supply problems show no significant signs of weakening, while the prospects for core demand are also blurring,” the LMC recently wrote. “This year, households will experience a serious squeeze in real incomes. Problems with deliveries are still a key factor for registration. “