Skoda Auto production line

William Malcolm

Skoda Hammered As European Car Sales Plummet

This October was the worst in recent years in terms of new car registrations. However, some manufacturers benefited from the situation, especially the Korean ones.

The European new car market continues to struggle with the crisis. After last year’s fall in registrations due to covid measures, a production crisis occurred this year due to a lack of components. This has been reflected in registration statistics for several months, which was confirmed in October. Last month, only 798,693 cars were registered in Europe, 29.3% less than a year ago. This is according to statistics from the European Automobile Manufacturers Association (ACEA).

In the first ten months of this year, however, new car sales in the EU rose by 2.2 percent year on year to about 8.2 million. The recent decline in sales due to the ongoing semiconductor supply crisis has helped offset the strong growth from the beginning of the year.

The largest European car markets recorded double-digit losses in October, as did most other markets. 35.7 percent fewer cars were sold in Italy, 34.9 percent in Germany, 30.7 percent in France and 20.5 percent in Spain.

The Volkswagen Group is failing

According to ACEA, 24.7 percent fewer new cars were sold in the Czech Republic in October, a total of 12,670. In the first ten months of the year, however, the number of registrations increased by 5.7 percent to 174,494 cars.

Of the individual manufacturers, the Volkswagen Group, which sold 44 percent fewer cars in the EU year on year, was particularly unsuccessful in October. The worst off was Škoda Auto, which is part of the group and whose sales in the EU fell by 50.2 percent year on year to 25,905 cars. In the first ten months of the year, however, the Volkswagen Group increased sales by two percent. On the contrary, Škoda also has a decline of 5.3 percent. It did not show growth during this period as the only major car manufacturer in the group.

Stellantis Group, which includes Peugeot, Fiat and Citroën brands, also had significantly lower sales (minus 33 percent) in October. The Renault Group also recorded a decrease of 31.7 percent, while the South Korean Hyundai Group registers an increase of 3.7 percent.