ACEA: European new car registrations in October 2021 were 798,693, down 29.3% year-on-year

From the perspective of car companies, in October , except for Hyundai Group, the sales of other car manufacturers in Europe showed a downward trend year-on-year. Among them, except for Jaguar Land Rover, Volkswagen Group, the largest car manufacturer in Europe, was hit the hardest, with sales plummeting by nearly 42% . This was mainly because except for Porsche, the sales of other brands under Volkswagen plummeted, and the sales of Volkswagen, Audi, Skoda and Seat even fell by more than 40% .

Daimler, Stellantis and Renault saw sales drop by nearly a third; BMW, Toyota and Volvo Cars saw sales drop by more than 20% in Europe . While other automakers' sales in Europe generally declined, Hyundai Group's sales rose for two consecutive months, surpassing Renault in market share and becoming the third largest automaker in Europe.

Stellantis and Volkswagen remain the top two automakers in Europe, delivering a total of 331,175 vehicles, accounting for 42% of Europe's total sales . However, Volkswagen's sales were overtaken by Stellantis , while in the same period last year, Volkswagen far exceeded Stellantis by more than 40,000 vehicles.

From January to October , among the major automakers, Ford and Renault suffered the biggest sales hit, with sales down by about 15% and 11% , respectively . Automakers have survived the chip supply crisis by prioritizing the production of the most profitable models and raising prices, so there are still eight automakers with rising sales in Europe. However, the growth of Volkswagen, Stellantis , Volvo Cars and BMW has been less than 10% . If the growth rate continues to decline, the annual sales of these automakers may find it difficult to maintain the upward trend.

Hyundai Group's European sales in the first ten months of this year increased by approximately 156,000 vehicles compared with the same period last year, making it the automaker with the largest sales growth in Europe. This is due to Hyundai Group's rapid progress in the European market this year, with its Hyundai and Kia brands both increasing by more than 20% .

" European auto sales are likely to improve in November as chip supply constraints ease," Bloomberg Intelligence analyst Michael Dean said in a report. " Many automakers have already completed partial assembly of vehicles, so they can quickly complete the assembly of entire vehicles once semiconductor supply improves. "