Europe would possibly slow as car sales in China and the United States sod after the coronavirus, however, over the next two years it is expected to develop strongly with a double-digit percentage expansion with a resumption of prepandemic grades until 2023.
This is the opinion of forecaster LMC Automotive in a report, which also hoped that the global industry would revel in stable expansion after a down-down crisis fueled by semiconductor shortages in the first part of 2021. Global sales will reach 88 million year-round. emerging to 93 million in 2022, 97 million in 2023 and one hundred million in 2024.
According to Fitch Solutions, car sales peaked at 92. 5 million in 2019.
Investment bank UBS has cut its overall forecast for 2021 from $87 million to $86 million, while in 2022 it expects 89 million sales.
Sales were strong in the United States, despite semiconductor problems.
“While the call has moved well above expectations, basically in North America, semiconductor source limitations require moderate relief in our forecasts. “We expect the quarter of this time (second quarter) to mark the lowest point in global car sales and production, with 10 to 12% of the overall volume lost/delayed due to chip shortages,” UBS said in a report.
Sales in the US have been in the middle of the world. But it’s not the first time They reached an annual amount of $18. 5 million in April.
However, with the global call for it to probably remain strong, with the repressed order in Europe accelerating at the time of 2021 after weak functionality from the beginning of the year, the sector will remain restricted through supply. levels, that is, in North America, it is likely that in 2022 lotes of car dealerships will be filled well, which bodes well for production in the coming quarters,” UBS said.
UBS reported some uncertainties next year. The immediate value of commodities will result in approximately 5% increase in additional value for vehicles, in addition to 6-10% increases in the values of transactions observed to date due to existing supply shortages.
“The value elasticity of demand could therefore become the main headwind against next year in an even favorable sectoral environment in a different way,” the bank said.
Data and analytics company GlobalData agrees that the overall recovery in vehicle sales after coronavirus closures is at full swing, but the effect is uneven, with demand in the United States expanding while European forecasts are revised down.
“Western Europe is the furthest place from the January 2018 base, while the US market is the furthest place in the world. But it’s not the first time It has suffered the internal effect of COVID-19. In fact, the US market has not been able to do so. But it’s not the first time It continues to exceed expectations,” said Calum MacRae, GlobalData’s automotive analyst.
Western Europe all primary markets such as Germany, France, United Kingdom, Italy and Spain.
“The US market has not been able to do so. But it’s not the first time It has recently been driven by fiscal stimulus and a sense of FOMO (concern to be lacking) among consumers. Concern is due to depletion of brokers’ inventories at traditionally low levels due to chip source issues that affected production in the industry in the first part of the year,” MacRae said.
“GlobalData figures also show strong demand for new cars this year in China, the Western European market is experiencing an asymmetric recovery. New car sales in Western Europe in April reached about the same point as last month, but market locations were disrupted by Traffic Restrictions in the COVID-19 population. Our most recent forecast for the world of 86. 1 million for the year still considers 2021 to be 3. 3% less than the 2019 total, but don’t be too surprised if the market ends closer to 2019. of what many expect lately, ” said MacRae.
LMC Automotive considered that, globally, the chances of a repeat of locks have decreased, thanks to vaccination programmes. it is probably the shortage of materials, as stocks have been depleted due to main demand and production disruption due to semiconductor shortages.
The dangers of the European problem come with any disruption of vaccination plans, other imaginable waves of other variants of covid and semiconductor shortages. The potential benefits come with the accumulation of savings and a repressed call that can help a more physically powerful order.
As a former European automotive correspondent for Reuters, I spent a few years writing about the industry. I’ll penetrate the hype and bragging of the company and find
As a former European automotive correspondent for Reuters, I spent a few years writing about the industry. I’m going to get to the hype and bluffing of corporations and find out how those gigantic corporations are doing. Machines, and their maximum modesty. I’ll tell you if the generation works too.