October 2, 2022

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European automobile sales suffer worst plunge at any time in pandemic

1 min read

European motor vehicle revenue plunged by virtually a quarter final 12 months as the pandemic provoked the worst crisis at any time to strike the cash-intense industry

MILAN — European car or truck income plunged by almost a quarter last yr as the pandemic provoked the worst crisis ever to strike the capital-intensive sector.

New vehicle registrations sank by 23.7%, or 3 million automobiles, to 9.9 million models, according to new figures released Tuesday by the European Vehicle Brands Affiliation. It said lockdowns and other limits “had an unparalleled effects on car or truck sales across Europe.”

Germany’s Volkswagen get rid of 3% in market place share, while gains were posted by PSA Peugeot and Fiat Chrysler — which on Monday formally introduced as a new merged entity — as nicely as Toyota.