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German new car registrations fall 35% in October due to chip shortage -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Visitors take a look at Renault cars in Munich during IAA Mobility 2021. This was held September 11th, 2021. REUTERS/Andreas Gbert

BERLIN, (Reuters) – In Germany, the number of new cars registered dropped 35% in October to approximately 179,000, as the worldwide semiconductor shortage continued to create production bottlenecks. This was according to a source familiar with the situation.

Source said that “the demand is there” and that supply cannot be kept up due to delay in production of parts for cars that requires semiconductors.

Due to shortages of chip supplies, many carmakers stopped production and installed these parts in larger, higher-margin cars. Customers were more inclined to buy pre-owned vehicles than wait for new ones.

The number of new registrations has already declined by double-digit percentages over the last few months but it was not as dramatic as October.

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