Dow Jones Newswires: EU passenger car registrations increased in December, but still contract overall in 2022

by | Jan 18, 2023 | Stock Market

Registrations of passenger cars in the European Union increased in the last month of 2022, although the full year still showed a contraction in registrations as a result of component shortages in the first half of the year, the European Automobile Manufacturers Association said. December registrations increased by 12.8% in the fifth consecutive month of growth, the association, known as ACEA, said. However, only two of the region’s four major markets, Germany and Italy, posted growth, it added.

France’s registrations remained stable at minus 0.1%, but Spain saw a hefty 14.1% decline in the last month of the year, ACEA said. Overall in the course of 2022, the European passenger car market contracted by 4.6% as a result of component shortages in the first half of the year, according to ACEA. “Although the market improved from August to December 2022, cumulative volumes stand at 9.3 million units, the region’s lowest level since 1993, when 9.2 million units were registered,” the association said. Write to Cecilia Butini at cecilia.butini@wsj.com

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