March data showed that passenger-car sales in Europe fell 2.8%. On Thursday, the European Automobile Manufacturers' Association (ACEA) revealed that registrations of new vehicles declined 5.2% to 1.38 million units in March, with BEV sales dropping 11.3%. This data reflects the stories told by Europe's star automakers, namely Volkswagen (OTC:VWAGY) and Stellantis NV (NYSE:STLA) who are struggling with lower demand, particularly on the EV front.
Europe's March figures in more detail.
As for overall sales, Germany recorded a 6.2% drop, followed by Spain's 4.7% fall, Italy that recorded a 3.7%decrease, and France whose sales contracted 1.5%. Battery-electric car registrations declined...