Home » Europe sales rise the most in nearly 2 years as supply shortages ease

Europe sales rise the most in nearly 2 years as supply shortages ease

Last year’s March sales were held back by the war in Ukraine, which disrupted supply chains and fueled raw-material inflation.

Volkswagen Group and Renault led gains among major European automakers with respective increases of 35 percent and 27 percent.

Sales of full-electric cars surged 43 percent, lifting their market share to 15.5 percent.

VW’s namesake brand this week unveiled the ID7 at the Shanghai auto show, its first full-electric sedan, to compete with models from Stellantis and Tesla.

Mercedes-Benz plans to double its EV sales globally this year, CEO Ola Kallenius told Bloomberg Television on Tuesday.

The share of EVs “is likely to grow this year as more models become available and supply-chain issues ease,” Bloomberg Intelligence analysts Gillian Davis and Michael Dean said in a note Tuesday.