European commercial vehicle market narrows in November

By Tuba Sahin

ANKARA (AA) – The EU commercial vehicle market continued shrinking for the fifth month in a row in November, a sectoral group announced Thursday.

New commercial vehicle registrations across the 27-member bloc reached 142,480 units in November, down 14.7% from the same month last year, according to the European Automobile Manufacturers' Association (ACEA).

The van segment's double-digit drop weighed heavily on the overall results, as vans accounted for over 80% of total commercial vehicle sales in the EU.

The EU's demand for vans – light commercial vehicles – slipped 16.6% to 116,119 in November, as the ongoing shortage of semiconductors continued to hamper vehicle output.

The four major markets in the region posted strong declines last month, with the sharpest year-on-year drop seen in Spain with 30.4% to 12.755 units.

Germany's vehicle market narrowed 22.1% to 28,499 units, France's 12.2% to 35,870 units, and Italy's 15% to 17,327 units during the same period.

In January-November, commercial vehicle registrations in EU markets hit 1.7 million units, an annual rise of 11.5% with 2020's low base effect.

All big EU markets remained in positive territory in the first eleven months of this year, especially Italy (growing 17.6%) and France (9.4%).