European Union (EU) car sales exhibit positive signs after a second consecutive reading in September.
The numbers from the European Automobile Manufacturers’ Association (ACEA) show an increase in new registrations of 9.6% compared with September last year.
This follows another positive reading in August of 4.4%. Prior to that, the automotive sector had registered year-on-year negative sales for more than twelve months.
While a positibve reading is an encouraging development for the industry, overall activity is close to the bottom as the numbers are against a low base of last year.
The slowdown originated by supply chain issues impacting production. The shortage of semiconductors brought about by the rise in electronics demand during the pandemic was a major factor.
While players say issues are still causing hickups, the industry is now over the worst period.
Polymer producers and compounders such as for PA6/PA66 and ABS also confirm an ease in the slowdown in demand. But they reiterate that activity is much lower than pre-pandemic levels.