Berlin, Jan. 5 (BUS): Germans registered significantly fewer new cars again last year, with the effects of the COVID-19 crisis continuing to affect the important auto sector, according to data released on Wednesday.
The Federal Automobile Bureau (KBA) reported that the number of new car registrations in 2021 fell by more than 10 percent to 2.62 million vehicles in 2021.
It follows a 20 percent year-on-year decline in 2020, when the coronavirus pandemic first started creating problems for the auto industry.
In 2021, the sector faced more difficulties, including a global shortage of electronic components for cars, according to the German news agency (dpa).
Compared to the strong pre-crisis year of 2019, when about 3.6 million new passenger cars were registered, the German market lost about 1 million.
The ifo institute released the results of its latest monthly survey on Wednesday, bolstering the challenges facing automakers.
Munich-based researchers said the situation in the German auto industry worsened for the fifth consecutive month in December.
The ifo industry index fell to minus 1 in the last month of 2021, down from 7.9 in November.
The index of manufacturers’ position fell to 15.6 from 36.5 in November, the institute said.
Manufacturers are still affected by supply bottlenecks for intermediate products.
The IFO added that their international business appears to be faltering, noting that the export expectations index fell from 51.1 points in November to 28.1 points in December.
The deteriorating situation of manufacturers has a direct impact on suppliers, the statement said.
While their Situation Index has risen, from minus 21.7 points in November to minus 13.6 points the following month, it remains deep in negative territory.
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