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LMC Automotive European Passenger Car Sales Update (November 2021)
2021/12/07
Table of contents
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Summary
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Commentary
Summary
- The West European selling rate increased to 10.3 mn units/year in November, from 9.0 mn units/year in October — although some improvement was seen in the latest result, it still reflected the ongoing global supply issues currently hindering vehicle production. By comparison, the market result for 2019 was 14.3 mn units.
- The German PV selling rate increased to 2.4 mn units/year, following 2.1 mn units/year in October. France witnessed a similar positive trend, at 1.6 mn units/year in November from 1.4 mn units/year the month before. The UK PV selling rate increased to 1.8 mn units/year from 1.6 mn units/year. Italy saw a smaller increase, to 1.3 mn units/year, following 1.2 mn units/year in October. The Spanish selling rate also increased, to 880k units/year from 770k units/year the previous month.
- Although improvements in selling rates were apparent in all markets that have reported for November, there is clearly scope for significant growth, with the latest month dealing another blow to the car market’s recovery. We anticipate market expansion in 2022, though selling rates will remain substantially below pre‐pandemic levels as supply issues continue to hamper production ramp up. In addition, coronavirus variants continue to threaten consumer demand, though supply side issues remain the main headwind currently.
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