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EU CAR SALES EXHIBIT POSITIVE SIGNS

October 28, 2022

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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.

Car Sales

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.