EU car market to grow 7.9per cent this year, still 20per cent below pre-pandemic - ACEA

BERLIN : The European Union's car market will return to growth in 2022 after two years of decline, but registrations will remain 20per cent below 2019 levels as the chip shortage continues to hamper production, Europe's auto manufacturers association predicted on Tuesday.

Stabilising chip supplies should enable car registrations to reach 10.5 million vehicles this year, 7.9per cent above 2021 levels, the European Automobile Manufacturers' Association (ACEA) said in a statement, urging the EU to up regional chip production to reduce its reliance on external suppliers.