European automotive sales fell 20.3% on an annual basis in February as COVID-19 lockdowns and economic uncertainty across the continent took a toll on consumer spending.
New car sales fell 20.3% year-on-year to 850,170 vehicles in the European Union, Britain and the countries of the European Free Trade Association (EFTA), according to figures from the European Automobile Manufacturers’ Association (ACEA).
Most European markets posted declines. Sales in Spain dropped 38% from February 2020. Sales in France and Germany fell by 21% and 19% respectively, while Italy reported a drop of 12%.
Sales at Volkswagen and Stellantis dropped by 19% and 22% respectively, while Renault reported a February sales decline of 29%. Luxury automakers also posted losses in February with sales at BMW falling 13% and rival Daimler reporting a 20% drop.
Europe’s carmakers are counting on sales in China, which hasn’t reintroduced a COVID-19 lockdown, to boost 2021 sales, after a rebound in the world’s largest market helped the industry recover quicker than expected last year.
