But sales of new cars in the EU are still below pre-pandemic levels, and the agency believes that the increase in demand for new cars in the EU is a temporary phenomenon.
For the first time since July 2021, the European car market recorded a monthly increase in new car registrations, Bloomberg wrote, citing data from the European Automobile Manufacturers Association.
It is reported that 748,961 vehicles were registered in the EU in August 2022, which is 3.4% more than in August 2021.
The biggest increase in sales was shown by the German Mercedes-Benz – with 16% compared to August last year. The most significant increases in new car registrations were in Germany (by 3%), in France (3.8%) and in Spain (9.1%).
Sales growth is attributed to overcoming the crisis of semiconductors in the automotive industry and a low base compared to the statistical indicators of covid 2021.
But sales of new cars in the EU are still below pre-pandemic levels, and the agency believes that the increase in demand for new cars in the EU is a temporary phenomenon, and then a new falls are to be expected.
“High inflation, rising interest rates and declining consumer confidence are causing Europeans to postpone replacing old cars with new ones. Demand for cars will decline in 2023,” predicts Bloomberg.
Remember that in Ukraine the demand for electric cars doubled in one month.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.