Sales of new cars in the EU continue to fall
In April, the number of registrations of new cars in the European Union decreased by 20% compared to the same period last year. With the exception of the "crazy" 2020, it was a record low April result, according to the European Automobile Manufacturers Association (ACEA).
In April 2022, 684,506 new cars were registered in the European Union, which is 20.6% less than in April 2021. ACEA experts emphasize that such weak sales were mainly due to the constant problems of car companies with supply chains for components for the production of cars, and the crisis in the automotive industry as a result. The decline was recorded in all major European markets: Italy (-33.0%), France (-22.6%), Germany (-21.5%) and Spain (-12.1%).
In total, from January to April 2022, the number of registrations of new cars in the European Union fell by 14.4% to 2,930,366. Significant declines in car sales in March and April further worsened overall results. Among the key EU markets, Italy (-26.5%), France (-18.6%), Spain (-11.8%) and Germany (-9.0%) suffered the largest losses in the first four months.
As for Ukraine, in April 2022, Ukrainians bought only 1,242 new cars. After a tenfold drop in the market in March due to a full-scale Russian invasion and a negative record of 546 cars sold, sales rose slightly in the fourth month of the year. However, compared to April 2021, this number of sales is 88% lower. In total, since the beginning of the year, Ukrainians have bought about 12.5 thousand new cars. Experts from the Institute of Car Market Research note that new car sales in the future will depend on the countryʼs economic recovery, increasing the purchasing power of the population and restarting lending programs.