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European September Car Registrations Lowest Since 1995 - ACEA

European new car registrations declined for a third month in a row in September and marked the lowest level for the month since 1995, data from the European Automobile Manufacturers' Association, or ACEA, showed Friday.

Passenger car registrations shrank 23.1 percent year-on-year to 718,598 units in September after a 19.1 percent fall in August.

The latest decline was largely caused by a lack of supply of vehicles due to the ongoing semiconductor shortage, the Brussels-based ACEA said.

All major EU markets recorded double-digit declines. Italy logged the worst fall of 32.7 percent, followed by Germany with a 25.7 percent slump.

Sales decreased 20.5 percent in France and 15.7 percent in Spain.

In the January to September period, car registrations in the EU climbed 6.6 percent from the same period last year to 7.5 million units, underpinned by significant gains earlier in the year.

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