The Austrian car market has collapsed enormously. Only 17,107 new cars were registered in May, 24 percent less than in the same month last year. Austria is thus behind Lithuania (minus 33.2 percent) at the bottom of the European Union, which registered an 11 percent drop to 791,000 vehicles. It was the tenth negative month in a row.
This is evident from data published by the manufacturers’ association ACEA on Thursday.
Since the start of the year, 85,846 new cars have been registered in Austria, which is also a whopping 20.7 percent minus compared to the months of January to May 2021. The EU average was 13.7 percent. Since the beginning of the year, 3.7 million passenger cars have been newly registered.
Only a few countries such as Cyprus, Greece, Latvia, Bulgaria, Romania and Sweden recorded growth in May. In Germany, France and Spain the car market fell by about ten percent, in Italy by 15 percent and in the former EU member Great Britain by no less than 20 percent.
The Russian invasion of Ukraine had already exacerbated the sector’s problems in February, causing the number of new registrations to fall to the lowest level since registration started 32 years ago. The lack of chips is also causing problems for car manufacturers.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
