Since ACEA published their report on new vehicles registration for February yesterday, today we bring you an overview of new vehicle registration in the EU & Russia in February.
In February 2021, new passenger car registrations in the EU dropped by 19.3% YoY, amounting to 771,486 units. According to ACEA, this marked the lowest February total on record since 2013. All four major EU markets recorded losses last month with Italy posting the smallest drop (‐12.3%), followed by Germany (‐19.0%), France (‐20.9%) and Spain (‐38.4%). When observing the Jan-Feb 2021 period, new car registrations in the EU were down 21.7% YoY. Note that EU figures only relate to passenger cars, since LCV sales data will be published later this month.
Meanwhile sales of new cars and LCVs in Russia increased by 0.8% YoY during February and amounted to 120,081 units, according to the AEB Automobile Manufacturers Committee. Note that such market development is encouraging since it could be a sign of stabilization for the Russian market which was able to start its recovery back in the second half of 2020.
Such market developments could have a mixed impact on AD Plastik, the Croatian car part manufacturer. Namely the EU market accounts for roughly 77% of their total sales, meaning that a slow recovery of demand will prolong the overall recover of the company’s results. On the other hand, we find new registration figures in Russia encouraging, as they are supportive of the significant number of new deals that the company signed in 2020 for the Russian market.
New Vehicle Registration (number of units in million)
Source: ACEA, AEB, InterCapital