European New Car Registrations Fall At Slower Pace In Nov: ACEA

European new car registrations fell at a slower pace in November, but the pace of decline remained in double-digits, figures from the European Automobile Manufacturers’ Association (ACEA) showed Friday. EU new car sales dropped 20.5 percent year-on-year following a 30.3 percent slump in October. New car registrations decreased for the fifth successive month. The number of units sold was 713,346, which was the lowest November total on record since 1993. Sales in three of the four major markets decreased in double-digits. Car registrations dropped 31.7 percent in Germany and fell 24.6 percent in Italy.

In Spain, car sales declined 12.3 percent and new registrations in France dropped 3.2 percent. Bulgaria, Ireland and Slovenia were the only EU markets posting growth in November, the ACEA said. In the January to November period, EU car registrations were lower by 0.04 percent from the same period last year.

The impact of the microchip shortage on vehicle output continued to hurt sales, despite 2020’s record low base for comparison. That said, car sales grew in three of the four largest EU markets – Italy, Spain and France.