site.btaBulgaria Reports 25.2% Increase in Car Sales as European Market Continues to Contract

Bulgaria reports a 25.2% increase in car sales of in March and 19.5% in the first quarter of 2022, as the European car market continues to contract and new car registrations in Europe declined by 20.5% in March to 844,187, show data released by the European Automobile Manufacturers Association (ACEA) on Wednesday. 

The total decrease in car sales in Europe reached 12.3% with 2,25 million vehicles sold in the first quarter of 2022. The ongoing supply chain disruptions, worsened by the Russian invasion in Ukraine, have had a negative impact on car manufacturing. As a result, most countries in the euro area registered double-digit drops in March, including the four leading markets: Spain (30.2%), Italy (29.7%), France (19.5%), and Germany (17.5%). The four leading markets register a decrease in the first quarter of 2022, as well.