May 18, 2022

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Half the Automotive

European car sales suffer worst plunge ever in pandemic

European car sales plunged by nearly a quarter last year as the pandemic provoked the worst crisis ever to hit the capital-intensive industry

MILAN — European car sales plunged by nearly a quarter last year as the pandemic provoked the worst crisis ever to hit the capital-intensive industry.

New car registrations sank by 23.7%, or 3 million vehicles, to 9.9 million units, according to new figures released Tuesday by the European Automobile Manufacturers Association. It said lockdowns and other restrictions “had an unprecedented impact on car sales across Europe.”

Germany’s Volkswagen shed 3% in market share, while gains were posted by PSA Peugeot and Fiat Chrysler — which on Monday officially launched as a new merged entity — as well as Toyota.