EU new car sales slump 30% in October amid a semiconductor shortage

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By Kim Richters


Passenger-car registrations in the European Union fell in October amid the semiconductor shortage, making it the fourth consecutive month of decline this year, the European Automobile Manufacturers Association said.

New car registrations–a reflection of sales–declined 30% year-on-year to 665,001 vehicles for the month, said the association, also known as ACEA, on Thursday.

“With 665,001 units sold across the region, this was the weakest result in volume terms for a month of October since records began,” it said.

Meanwhile, new passenger-car registrations across the EU in the January-October period rose 2.2% to 8.2 million.

“Despite the recent drop in sales due to the ongoing impact of the semiconductor supply crisis, substantial gains earlier in the year helped to keep cumulative volumes in positive territory,” said ACEA.


Write to Kim Richters at kim.richters@wsj.com


This article was originally published by Marketwatch.com. Read the original article here.

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