EU New Car Sales Slumped in April as Supply Squeezes Drag On

By Joshua Kirby

Continued supply chain pressures led to a big decline in new car registrations in the European Union in April, according to data from European Automobile Manufacturers Association, or ACEA.

Total new car registrations in the bloc fell 21% on year to 684,506 units sold. This was the lowest volume for the month of April since records began, barring the Covid-19 pandemic-hit April 2020, ACEA said. "[S]upply chain issues continued to weigh heavily on car production," the association said.

All major markets contributed to the decline, with Italy registering the sharpest decrease among them at a 33% fall, ACEA said. Similarly, nearly all major auto makers registered declines in the month, with Stellantis NV seeing the biggest decrease at 32% on year, according to the association.

In the first four months of the year taken together, registrations declined 14%, ACEA said.

Write to Joshua Kirby at [e-mail]; @joshualeokirby

(END) Dow Jones Newswires

May 18, 2022 02:14 ET (06:14 GMT)

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