According to data for 26 European markets, new car registrations slowed once again in August, with a decline of 18% to 713,714 units. This marks the lowest recorded volume in August since 2014.
Last month’s decline did not however offset the growth registered during the second quarter of the year. Year-to-date volume remains higher than last year, with 8,095,419 registered units compared with 7,192,839 registered between January and August in 2020.
Felipe Munoz, Global Analyst at JATO Dynamics, commented: “The chip shortage has been a major setback for OEMs still grappling with the effects of the pandemic. Production issues and delays in the delivery of new cars have been damaging to sales, and the lack of availability at dealerships is forcing many consumers to either look for used cars or simply delay their purchase. In usual circumstances, consumers may expect to wait lots of months for a new Ferrari, but they are now experiencing the same delay for regular models.”