A total of 2.62 million vehicles were registered in Europe’s main economy in 2021, 10.1% less than the previous yearthe federal automobile agency (KBA) said in a statement.
It was the second consecutive year of decline for the sector, after 2020 was classified as its worst year since German reunification in 1990, with 2.92 million cars registered.
“All manufacturers continue to suffer from the shortage of intermediate goods,” explained the IFO economic institute in an analysis published Wednesday.
After a 2020 marked by the closure of factories and sanitary restrictions, the automotive sector has been facing bottlenecks in the world market for several months that have sunk vehicle production.
The coronavirus pandemic disrupted supply chains, causing shortages of raw materials and components.
The only positive point of last year was the increase in the sale of electric and hybrid vehicles, which grew 83.3% and 43%, respectively.
Source From: Ambito
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