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European car sales down 14% in first half

European car sales down 14% in first half< /p> UPDATE DAY

Car sales fell 14% in the European Union in the first half of 2022 compared to the same period of 2021, the European Manufacturers Association (ACEA) said on Friday. 

Amid continued shortages of electronic chips, some 4.6 million new vehicles were sold in the European Union, with all major markets posting double-digit declines.

Italy thus collapsed by 22.7%, France by 16.3%, Germany by 11% and Spain by 10.7%. Close to the EU, the UK market fell by 11.9% over the same period.

June was thus the 11th month of decline in a row, with a 15.4% year-on-year decline in sales in the EU.

Since the spring of 2021, the automotive market has been held back in Europe and America by a series of logistical problems, including a shortage of semiconductors. These electronic chips, mainly produced in Asia, are essential for the manufacture of telephones and laptops, but also cars which carry ever more electronics.

With chip supplies stabilizing, ACEA predicted a rebound in auto sales in the second half of 2022, but the war in Ukraine dampened that optimism.

Despite sales figures in decline, manufacturers reaped profits in the first quarter on the back of rising car prices. But their sales figures continued to decline in April.

European leader Volkswagen fell 18.5% in the first half of 2022 (-22.3% year-on-year), with a sharp decline in its main brand, Skoda and Audi. 

Its runner-up Stellantis lost 22.5% in the first half, and 17.9% over one year, with significant declines for Peugeot, Fiat and Citroën, in particular.

Only the Korean group Hyundai- Kia continues to grow in the European market with +9.9% in the first half, but -4.8% over one year. It thus falls behind the Renault group in market share (8.2% against 11.8 in the first half). 

Renault saw its sales fall by 8.1% in the first half, the main brand losing 20.8% but Dacia growing by 16%.

In the first half, sales of Toyota fell by 1.6%, BMW-Mini by 13.7%, Mercedes-Benz 8.1%. Ford lost 14%, while Volvo collapsed by 27.4% and Land Rover-Jaguar by 30.1%.

Nissan lost 14.3%, Mazda 19.3%, Mitsubishi 6, 2%, while at the bottom of the table Honda shows an increase of 18.2% (but -8.9% over one year) with a market share of 0.4%.

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