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Car sales in Europe hit record low due to global microchip shortage
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Car sales in Europe hit a record low in October due to microchip shortages, the European Automobile Manufacturers’ Association said in a statement on Thursday.
New passenger car registrations in the European Union dropped by 30% in October, the group said.
"With 665,001 units sold across the region, this was the weakest result in volume terms for a month of October since records began," the statement read.
Europe's biggest car markets suffered "double-digit losses," including -35.7% in Italy, -34.9% in Germany, -30.7% in France and -20.5% in Spain.
Meanwhile, demand has held up in most of these markets, except in Germany.
October marks the fourth consecutive month of car sales decline this year after a post-pandemic bounce.
"Despite the recent
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