During November 2021, European Union passenger car registrations fell for the fifth consecutive month this year (-20.5%), totalling 713,346 units sold. In volume terms, this result marked the lowest November total on record since 1993. Double-digit losses were recorded in many EU markets, including three of the four major ones: Germany (-31.7%), Italy (-24.6%) and Spain (-12.3%). France saw a more modest drop of 3.2% last month; Bulgaria, Ireland and Slovenia were the only EU markets posting growth.
Eleven months into the year, the impact of the microchip shortage on vehicle output dragged the EU’s year-to-date sales performance into negative territory (-0.04%), and this despite 2020’s record low base for comparison. Nevertheless, three of the four largest EU markets still posted positive results from January to November 2021: Italy (+8.6%), Spain (+3.8%) and France (+2.5%). In Germany, on the other hand, registrations of new cars further weakened (-8.1%) compared to one year ago.
- The European Automobile Manufacturers’ Association (ACEA) represents the 16 major Europe-based car, van, truck and bus makers: BMW Group, CNH Industrial, DAF Trucks, Daimler, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Jaguar Land Rover, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars, and Volvo Group.
- 12.6 million Europeans work in the auto industry (directly and indirectly), accounting for 6.6% of all EU jobs.
- 11.6% of EU manufacturing jobs – some 3.5 million – are in the automotive sector.
- Motor vehicles are responsible for €398.4 billion of tax revenue for governments across key European markets.
- The automobile industry generates a trade surplus of €76.3 billion for the EU.
- The turnover generated by the auto industry represents more than 8% of the EU’s GDP.
- Investing €62 billion in R&D annually, the automotive sector is Europe’s largest private contributor to innovation, accounting for 33% of total EU spending.