Passenger Car Registrations in EU Plunge 20.5% in Nov. to the Lowest in 28 Years

Source: Acea

The total passenger car registrations in the European Union were 713,346 in November, down 20.5%. DAX is down -0.99%, EURUSD is down -0.42%. 

• EU’s passenger car registrations have now fallen for the fifth straight month, with the registrations now at the lowest for November total since 1993.
• Germany posted a 31.7% decline, while Italy and Spain plummeted 24.6% and 12.3%, respectively, in passenger car registrations. 
• The fall in car registrations in the EU was attributed to chip shortages, with the year-to-date sales entering the negative territory at minus 0.04%.
• In the January to November period, EU’s three of the four largest markets Italy, Spain, and France still posted gains in car registrations at 8.6%, 3.8%, and 2.5%, respectively. German registrations slipped 8.1% from the prior year.