New car sales on the continent are expected to fall to 9.6 million units, -1% from 2021, and -26% from 2019, before the pandemic, ACEA said in a statement.
With nearly six million cars sold between January and August 2022, the market is down 11.9% over the year. But following thirteen consecutive months of decline, sales rebounded slightly in August (+4.4%).
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 supply stabilizing, ACEA predicted a rebound in auto sales in the second half of 2022, but the war in Ukraine dampened that optimism.
“Demand should suffer in the coming months from inflation and fears of a recession”indicates the Association.
“To ensure a return to growth – with an increased share of electric cars, to achieve climate objectives – we urgently need a good framework”, said Thursday night Oliver ZipseCEO of BMW and President of ACEA.
This framework includes a better resilience of European supply chains, a European law on critical raw materials, and an accelerated development of the network of electric charging stations, underlined Mr. Zipse.
Most of the manufacturers still reaped large profits in the first half thanks to a rise in prices.
