Click to Enlarge.
The West European passenger vehicle selling rate remained at 9.8 mn units/year in June, bringing the H1 2022 average to just 8.8 mn units/year, according to the LMC Automotive Consultancy*.
New vehicle registrations remain poor because of ongoing supply constraints, with selling rates below annual results during the pandemic years of 2020 and 2021.
“With June usually a relatively strong month for new vehicle registrations, last month disappointed due to ongoing supply problems. However, in raw data terms last month’s figure did improve by over 100k units, which within the context of a supply- constrained market does indicate some progress for the region,” said LMC.
The German passenger vehicle selling rate fell slightly to 2.3 mn units/year in June, though raw sales did improve month-on-month (MoM). In the UK, the selling rate fell to 1.5 mn units/year, marking the worst June for more than a decade. In France, the selling rate remained flat at 1.5 mn units/year. While in Spain, the selling rate fell slightly to 834k units/year. The Italian passenger vehicle selling rate improved on the month before to 1.3 mn units/year.
“While the June registrations result for the region was slightly above expectation, we continue to see the PV market contracting for the full year due to the assumption that the industry will not overcome supply constraints anytime soon. From next year, we forecast recovery, though recent statistics and the latest news on ongoing supply issues, lead us to remain cautious on the YoY improvement. Another concern relates to underlying demand, which has weakened in recent months as the economic outlook has deteriorated,” said LMC.
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*LMC Automotive is part of the LMC group, now part of GlobalData. Originally founded in 1980, it provides market intelligence, analysis and advice to clients around the world involved with agricultural commodities, foods, industrial materials, bio-fuels and their end-markets. A separate company in the group specializes in the coverage of the rubber and tire sectors. Contact LMC at www.lmc-auto.com or LMC Automotive, 4th Floor, Clarendon House, 52 Cornmarket Street, Oxford, Oxfordshire OX1 3HJ, United Kingdom.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
West European Car Sales Remain Weak at 9.8M Annual Rate
Click to Enlarge.
The West European passenger vehicle selling rate remained at 9.8 mn units/year in June, bringing the H1 2022 average to just 8.8 mn units/year, according to the LMC Automotive Consultancy*.
New vehicle registrations remain poor because of ongoing supply constraints, with selling rates below annual results during the pandemic years of 2020 and 2021.
“With June usually a relatively strong month for new vehicle registrations, last month disappointed due to ongoing supply problems. However, in raw data terms last month’s figure did improve by over 100k units, which within the context of a supply- constrained market does indicate some progress for the region,” said LMC.
The German passenger vehicle selling rate fell slightly to 2.3 mn units/year in June, though raw sales did improve month-on-month (MoM). In the UK, the selling rate fell to 1.5 mn units/year, marking the worst June for more than a decade. In France, the selling rate remained flat at 1.5 mn units/year. While in Spain, the selling rate fell slightly to 834k units/year. The Italian passenger vehicle selling rate improved on the month before to 1.3 mn units/year.
“While the June registrations result for the region was slightly above expectation, we continue to see the PV market contracting for the full year due to the assumption that the industry will not overcome supply constraints anytime soon. From next year, we forecast recovery, though recent statistics and the latest news on ongoing supply issues, lead us to remain cautious on the YoY improvement. Another concern relates to underlying demand, which has weakened in recent months as the economic outlook has deteriorated,” said LMC.
AutoInformed on
*LMC Automotive is part of the LMC group, now part of GlobalData. Originally founded in 1980, it provides market intelligence, analysis and advice to clients around the world involved with agricultural commodities, foods, industrial materials, bio-fuels and their end-markets. A separate company in the group specializes in the coverage of the rubber and tire sectors. Contact LMC at www.lmc-auto.com or LMC Automotive, 4th Floor, Clarendon House, 52 Cornmarket Street, Oxford, Oxfordshire OX1 3HJ, United Kingdom.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.