MADRID (ICIS)--Registrations of commercial vehicles – vans, trucks, and coaches – fell sharply in July and August, year on year, the European Automobile Manufacturers' Association (ACEA) said.
Commercial vehicle registrations fell by 11.9% and 5.4% in July and August, respectively, year on year.
The petrochemicals-intensive automotive industry has been affected in past months by supply chain woes and global shortages of semiconductors. Around 20% of petrochemicals output in Europe is sold to the automotive sector.
The fall during the summer months for commercial vehicles follows a sharper fall in registrations for passenger car vehicles, down 23% and 19% in July and August, respectively.
“This [fall in July and August] reflected the slowdown in demand for vans, accounting for 83% of total commercial vehicles registrations, given that the truck and bus segments actually performed better than last year,” said ACEA.
“Sales continued to be driven by central Europe (+23.2%), while new registrations in the key western European markets contracted both in July and August.”
Registrations of commercial vehicles in January-August, however, still point to high growth this year for the sector as the economy emerges from the pandemic’s hit.
Nearly 1.3m new commercial vehicles were registered in the EU during the eight-month period, up 24% compared with the same period of 2020.
“Each of the four big EU markets recorded double-digit gains so far this year, although at a slower pace compared to the first half of the year: Italy (35.4%), France (22.4%), Spain (16.0%) and Germany (12.5%),” said ACEA.