Fewer New Company Cars in the EU Due to Chip Shortages

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Sales of new commercial vehicles in the European Union, such as trucks, buses and vans, fell in July and August compared to the same months last year.

 

According to the European car industry association ACEA, sales fell by more than 12 percent in July to almost 6 percent in August. The car industry has been struggling with shortages of computer chips for months.

In the month of July, a total of 148,178 new commercial vehicles were sold, a decrease of 11.9 percent compared to the same month last year. However, a month earlier, sales increased by more than half compared to a year ago. In August, the decline was 5.4 percent, and a total of 119,525 new commercial vehicles were sold.

In particular, fewer vans were sold, while trucks and buses outperformed the same period last year. Due to the economic recovery from the corona crisis, sales of commercial vehicles continued to increase until July. Still, now ACEA registered a decline for two months in a row for the first time this year. The strongest demand came from Central Europe in July and August, as in previous months. By contrast, sales of new commercial vehicles declined in key Western European markets such as Italy, Spain, Germany and France.

Although sales of new commercial vehicles in the Netherlands increased very slightly in July (plus 0.2 percent) to 5,866 new commercial vehicles, only 4,617 commercial vehicles were sold in August, a decrease of more than 17 percent.

Despite the weak summer months, a total of nearly 1.3 million new commercial vehicles were sold in the first eight months of the year. That is almost a quarter more than in the same period a year ago. However, during this period, sales within the major EU car markets grew at a slower pace compared to the first half of this year. Sales rose the most in Italy and France, the least in Spain and Germany.

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