Ukraine warfare slams brakes on European automobile gross sales

Russia’s invasion of its neighbour has added to the woes of European automobile producers as Ukraine is a provider of key components.

European automobile gross sales sank in March as Russia’s invasion of Ukraine added extra issues to a sector already battling shortages of semiconductors, business knowledge confirmed Wednesday.

Passenger automobile registrations fell 20.5 % in comparison with the identical interval final 12 months, with 844,187 models bought, based on the European Car Producers’ Affiliation (ACEA).

Excluding 2020 when the coronavirus pandemic paralysed the worldwide financial system, it was the worst efficiency for a month of March since statistics started in 1990.

Automobile manufacturing has been hampered worldwide since final 12 months by a extreme scarcity of semiconductors, a key element for contemporary automobiles as they energy all the pieces from anti-lock braking techniques to airbags to parking help expertise.

The warfare has led to shortages of different components, such because the cables utilized in automobile wiring harnesses and of which Ukraine is a producer.

A number of factories in Europe have needed to go idle because of the lack of cables, with Volkswagen quickly suspending manufacturing at various German websites.

Europe’s high automaker noticed gross sales fall by almost 1 / 4 in March, based on ACEA figures.

“The continued provide chain disruptions, additional exacerbated by Russia’s invasion of Ukraine, negatively affected automobile manufacturing,” the ACEA stated.

Most international locations in Europe had double-digit drops in automobile gross sales in March, the affiliation stated, with a fall of 17.5 % in Germany, the most important market.

There have been even bigger falls of round nearly 20 % in France, round 30 % in Italy and Spain, and almost 40 % in Spain.

Exterior the European Union, gross sales fell by 14.3 % in Britain.

EU auto gross sales to rise as chip crunch to ease: business

© 2022 AFP

Ukraine warfare slams brakes on European automobile gross sales (2022, April 20)
retrieved 20 April 2022

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