There's good and bad news coming from Europe, depending on whether you prefer combustion or electric power in your vehicles. Last month, new car registrations in the region hit a record low in February with just 794,600 units. That's a 5.4 percent drop from last year, but it's 25 percent lower than February 2020 and down 30 percent versus 2019. The data from JATO indicates that last month was the worst for registrations in at least 42 years.
The reasons are widely known by the public: the semiconductor shortage and the impact of the war in Ukraine on the availability of pieces for the production of cars in the European plants. Consumers simply can’t find new cars to buy.
