Good and bad news coming from Europe. Last month, the new car registrations in Europe posted the record low for February with just 794,600 units. The total is 5.4% lower than the volume registered in February 2021, but 25% lower than February 2020, and -30% vs February 2019. The data from JATO indicates that last month was the worst February at least over the last 42 years.
The reasons are widely known by the public: semiconductors shortage and the impact of the war in Ukraine on the availability of pieces for the production of cars in the European plants. The consumers can’t simply find new cars.
