The number of new vehicles registered in the region in 2022 plunged to the lowest in 30 years, the ACEA says The European Union passenger car market contracted by 4.6% last year to just 9.3 million units, which is the region’s lowest level since 1993, the European Automobile Manufacturers Association (ACEA) reported this week. According to the report, the slump was mainly due to the impact of component shortages in the first half of the year. The market, however, improved from August to December, with new car registrations expanding by 12.8% in the last month of the year. Overall, in 2022 only Germany managed to p
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