EU Passenger Car registrations continue to decline: -12.3% Q1 2022, -20.5% in March

According to ACEA, in March 2022 passenger car registrations in the European Union declined 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%).

“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%)” — ACEA added.

The European Automobile Manufacturers’ Association (ACEA) represents the 16 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, Jaguar Land Rover, Mercedes-Benz, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars, and Volvo Group.

When it comes to EVs, a recent survey by Simon-Kucher & Partners, showed that 4 out of the top-5 reasons to not purchase an EV are range and charging related. The survey inquired almost 10,000 car customers from across 14 countries about their product and purchase preferences, and attitudes towards new mobility concepts. The survey also concluded that 87% of customers purchased an electric vehicle from dealerships and only 7% from online retailers.