According to a report by Reuters, data from the European Automobile Association on Friday showed that new passenger car registrations in Europe hit a record low of 1.06 million vehicles in June, the lowest since 1996, and sales for some automakers fell by nearly 50\%.
Volkswagen Group is one of the hardest-hit car companies. Volkswagen’s sales in Europe in June were nearly a quarter lower than in June last year, and STELLANTIS also fell by 21.1\%.
STELLANTIS was formed by the merger of PSA Group and Fiat Chrysler Group (FCA), a car manufacturer with 15 automotive brands, including Abarth, Alfa Romeo, Chrysler, Citroen, Dodge, DS, Fiat, Fiat Commercial Vehicles, Jeep, Lancia, Maserati, Opel, Peugeot, RAM, and Vauxhall.
Among smaller car brands, Volvo’s new registrations fell by 47.9 \% in June and by 28.5 \% in the first half of the year (January to June). Jaguar’s sales fell by a smaller margin of 13.2 \% this June, but this year marks the biggest drop for Jaguar at 34.7\%.
Inflation, supply chain bottlenecks, the pandemic, and continued chip shortages are the four chains that shackle the global auto market, particularly for the European market. The European automotive industry has now declined for 12 consecutive months.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.