Quantcast
EU car market to grow 7.9% this year, still 20% below pre-pandemic – ACEA – Metro US

EU car market to grow 7.9% this year, still 20% below pre-pandemic – ACEA

Volkswagen starts ID.5 production in Zwickau
Volkswagen starts ID.5 production in Zwickau

BERLIN (Reuters) – The European Union’s car market will return to growth in 2022 after two years of decline, but registrations will remain 20% below 2019 levels as the chip shortage continues to hamper production, Europe’s auto manufacturers association predicted on Tuesday.

Stabilising chip supplies should enable car registrations to reach 10.5 million vehicles this year, 7.9% above 2021 levels, the European Automobile Manufacturers’ Association (ACEA) said in a statement, urging the EU to up regional chip production to reduce its reliance on external suppliers.

(Reporting by Victoria Waldersee; Editing by Ludwig Burger)

More from our Sister Sites