Covid Curse – EU Sales Drop 19% in February, -22% YTD

Ken Zino of AutoInformed.com on February 2021 new passenger car sales in the European Union

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During February 2021, new passenger car registrations in the European Union dropped by 19.3%, as COVID containment actions, a botched vaccination program and overall uncertainty continue to negatively affect demand of a key industry.

With 771,486 units registered across the EU region, according to ACEA, this marked the lowest February total on record since 2013. All four major EU markets recorded losses last month. Italy posted the smallest drop (-12.3%), while the other markets faced stronger deterioration: Germany (-19.0%), France (-20.9%) and Spain (-38.4%).

From January to February 2021, total registrations of new cars in the European Union were 21.7% lower than during the same period in 2020. So far this year, demand fell in each of the major markets. Spain was the hardest hit, with sales almost halved (-44.6%) compared to last year, followed by Germany (-25.1%), France (-14.2%) and Italy (-13.1%).

Jobs and Economy

  • 6 million Europeans work in the auto industry (directly and indirectly), accounting for 6.7% of all EU jobs.
  • 5% of EU manufacturing jobs – some 3.7 million – are in the automotive sector.
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