A global semiconductor shortage and other supply chain issues have curtailed delivery of cars globally, with many carmakers sitting on half-finished inventories and unable to meet demand.
New car registrations in Europe fell 1.5% in 2021, well below the previous record low of 2020 sales, industry data showed on Tuesday. A global semiconductor shortage and other supply chain issues have curtailed delivery of cars globally, with many carmakers sitting on half-finished inventories and unable to meet demand.
Germany was the hardest hit among major EU markets, with ACEA data showing a 10.1% sales decline in the year, while others such as Italy, Spain and France saw modest growth.
The number of new vehicles registered with the European Union, the UK and the European Free Trade Association (EFTA) declined 21.7% year-on-year in December, marking the sixth consecutive month of decline.
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