Europe Auto Sales Resume Steep Decline in January After Reprieve – Bloomberg

Passenger-car sales in Europe’s five biggest markets tumbled by more than a quarter last month after lockdowns to combat the pandemic shuttered dealerships and consumers shied away from large purchases. Registrations fell 28% across Germany, the U.K., France, Italy and Spain in January from the year-earlier period, according to Bloomberg Intelligence analyst Michael Dean. With lockdowns still in effect in several countries and carmakers grappling with a shortage of semiconductors, Dean said he sees February sales dropping 10%.

“The European auto-sales outlook for the first half remains uncertain,” Dean said in a note, adding that expectations for a near-doubling in operating profit across the region’s carmakers this year look increasingly doubtful.

Grim 2020

Europe’s car sales declined in all but one month last year

Source: European Automobile Manufacturers Association

Note: Data are for European Union, European Free Trade Association and the U.K.

The drop last month follows a much smaller decline in December, when carmakers pushed sales of battery-powered vehicles to meet more stringent emissions targets for 2020.

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