New car sales in the European Union fell steeply in January, hitting a record low for the month as coronavirus-related restrictions weighed, according to data published Wednesday.
Across the EU, new car registrations–a reflection of sales–fell 24% to 726,491 vehicles in January, according to the European Automobile Manufacturers’ Association, or ACEA. The figure is the lowest total for January on record, with pandemic-related restrictions continuing to affect sales. Most markets also had one less business day than the previous January.
Meanwhile, all major European auto makers saw sales decline on-year in January. Volkswagen AG experienced a decline of 27%, while two other German companies, Daimler AG and Bayerische Motoren Werken AG, recorded drops of 14% each. Sales at France’s Renault SA fell 22%, and sales at recently-formed Stellantis NV dropped 26%, based on comparable figures from last year for its constituent companies Fiat Chrysler and Peugeot.
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