According to the region’s carmakers’ association, new car registration in Europe increased in August.
Italy, Spain, France and Germany are some of the key markets in the European Union.
There were 650,305 new vehicles registered in the EU during the month of August, an increase of 9% from the previous month.
The 4.4% jump in EU car registrations in August is still below pre-pandemic levels.
There are a few supply-chain constraints that are starting to ease for the automotive industry.
Mercedes-Benz AG was one of the best performers.
The European Union saw a decrease in new car registration in July.
Germany and Spain had the greatest declines of all the major EU markets in July.
Despite the recent improvement, earlier declines weigh negatively on the cumulative performance, as evidenced by the fact that new passenger car volumes have contracted by 11.9% in the first eight months of the year.