Europe sees sharp decline in car sales

Sales of new cars in the European Union (EU) in January decreased by 24.5% compared to the same period last year and amounted to 726,500 units, said the European Automobile Manufacturers Association (EAMA).

"In January 2021, the decline in the new car market accelerated as COVID restrictions in the EU continued to have a significant impact on sales," the statement noted.

Of the 27 EU member states, sales in Spain fell by 51.5%, in Germany by 31.1%, and in Italy by 14%. The smallest drop (5.8%) was recorded in France.

In particular, new cars produced by the Volkswagen Group in January decreased by 26.8% compared to the same period last year, Stellantis (formerly Fiat and PSA) by 26.1%, and Renault by 21.6%.

According to a forecast released by ACEA earlier this month, sales in the EU will increase by 10% by the end of this year as the pandemic crisis subsides.