In June, passenger car registration in the EU decreased by 15.4% YoY, totalling 886,510 units as expected. Meanwhile, in January – June 2022 EU demand for new cars decreased 14% YoY. Outlook is threatened by the lack of electric cabling components. In Croatia in the mentioned period passenger car registration reported a slightly lower decrease of 11.9% YoY, while only in June a decrease of 28.4% YoY was noted. Furthermore, the outlook doesn’t look too optimistic – Russia’s invasion of Ukraine disturbed the production of harnesses in Ukraine, used for holding together electric cabling inside of a car.
In June 2022, passenger car registration in the EU decreased by 15.4% YoY, totalling 886,510 units. The biggest decrease reported in the EU by far was in Germany, France and Italy, where the reported decrease amounted to 49.6k units, 28.4k units and 22.5k units, respectively, representing 18%, 14.2% and 15% YoY decrease. Furthermore, no major regions reported an increase in new passenger car registrations.
When observing January – June 2022, the situation is quite similar – EU demand for new cars decreased by 14% YoY, reaching 4.6m units registered in total. When observing the whole period, Italy, as the major market, reported the highest decrease of 22.7% YoY with total car registration amounting to 684.3k units. This decrease was further amplified by a decrease in another two major markets, Germany and France. Germany reported a decrease of 11% YoY and France reported a decrease of 16.3%, which is a decrease of 153k and 151k units of cars registered, respectively. Spain, which is also considered a major market, also reported a decrease of 10.7% YoY in the mentioned period.
Looking at the region, when observing the whole period since the beginning of the year, Croatia reported a decrease of 11.9% YoY, amounting to 23k units registered. Looking at data only for June, Croatia reported a decrease of 28.4% YoY, amounting to 5k units registered. Slovenia reported a similar situation – when observing the whole period, Slovenia reported a decrease of 16.6% YoY, amounting to 26k units of the car registered.
Also, the outlook is still threatened by the lack of harnesses, which is used to hold together electric cabling inside of a car and produced mostly in Ukraine – which due to obvious reasons, does not look optimistic. Some suppliers in Ukraine have begun restarting operations, according to car manufacturers. Almost all plants used in production currently working are unable to produce at the full rate of capacity.
