Ford Motor Co (NYSE:F) and Volkswagen Group (OTC:VWAGY) led the decline in new car registrations in the European Union last month, data from European Automobile Manufacturers’ Association (ACEA) showed.
What Happened: Overall, new passenger car registrations in the EU fell 20.5% to 713,346 units in November, marking the fifth consecutive month of decline this year.
Top three nations — Germany, Italy and Spain — recorded double-digit declines during the month, ACEA said.
The Detroit, Michigan-based Ford’s new car registrations in November plummeted 43.7% year-on-year to 25,070 vehicles.
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Germany’s Volkswagen, which enjoys the largest share in the region, saw registrations slump 33.7% in November to 152,848 vehicles, compared with a year ago.
Registrations have declined 1.6% year-on-year to 2,251,970 vehicles so far this year for Volkswagen, implying a market share of 25.3%. For Ford, the year-to-date decline is 17.3%, at 365,675 vehicles, implying a market share of 4.1%.
“Eleven months into the year, the impact of the microchip shortage on vehicle output dragged the EU’s year-to-date sales performance into negative territory, and this despite 2020’s record low base for comparison,” the ACEA said.
In Germany, the largest market, registrations of new cars further weakened (-8.1%) year-to-date, compared to a year ago.
