European car sales fall for 11th straight month in May
Europe’s new-vehicle sales slumped for an 11th consecutive month as record inflation and falling consumer confidence joined prolonged supply-chain disruptions.
Registrations fell 12.5% to 948,149 vehicles in May, the European Automobile Manufacturers’ Association said Thursday. Hardest-hit among major automakers was Volkswagen AG, which saw sales drop by more than 21% from the same month last year.
Forecasters at LMC Automotive cut their estimate for full-year Western European passenger-car sales again this month, the fifth time this year. They now expect 9.8 million deliveries this year, a 7.4% decline from 2021. In January, LMC predicted sales would grow by 9%.
Registrations fell by about 10% in both Germany and France, and by more than 20% in the UK, Bloomberg.
via.TITVN
