European car market: in September it grows by 7.9%

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Signs of recovery for the car market in Western Europe (EU + EFTA + UK): after thirteen consecutive months of decline, the last two months show the “+” sign again. After a 3.4% growth in August, September closes with a + 7.9%, which coincides with a breath of fresh air for almost all 30 national markets in the area. A widespread improvement, therefore. The data relating to the five largest markets are also consistent with the continental trend, namely Germany, United Kingdom, France, Italy and Spain: overall, these countries had growth of 4.5% in August and 8.2% in September.

According to Gian Primo Quagliano, president of the Centro Studi Promotor, it is “still early days for optimism, but the weak positive signal of August which strengthens in September must still be taken into consideration, even if there is the concrete possibility of being confronted, more than a trend reversal, a rebound in a market that, compared to 2019, i.e. compared to the pre-pandemic levels, in the first nine months of this year fell by almost a third, to be exact on the 31st, 7% “.

The reasons for the dive recorded in recent months are to be found in a short circuit between supply and demand: the former was heavily penalized by the pandemic – and by the resulting economic consequences – as well as by the impact of the war in Ukraine, by the return of inflation and from other factors. The supply of new cars, on the other hand, was limited by the shortage of components necessary for their production. The hope is that the trend will now remain positive, given that in the first three quarters of 2022 the car market in the EU contracted by 9.7%, to 8.27 million total registrations, compared to 9, 16 million registrations for the 2021 payment.

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