Europe’s new-car sales rose for a sixth month, led by robust growth in Spain and Italy, as supply issues ease and fuel hopes for a post-pandemic rebound.
Registrations jumped 11 percent to 911,064 vehicles last month, data from the European automakers’ lobbying group, ACEA showed on Tuesday.
While shortages of semiconductors and other components are waning, automakers are now contending with inflation and slowing economies.
“Western European countries are experiencing recessionary conditions, with higher prices and interest rates squeezing real household income,” LMC Automotive said in a report this month.
Although the forecaster is expecting the first annual gain in regional car sales this year, its projection for 10.95 million deliveries is well short of 14.3 million in 2019.