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LMC Automotive European Passenger Car Sales Update (January 2022)
2022/02/08
Table of contents
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Summary
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Commentary
Summary
- The West European selling rate slipped to 9.7 mn units/year in January, from 11.3 mn units/year in December. While the completion of some build‐shy vehicles may have been part of the reason for improvement in the final month of last year, the result at the beginning of 2022 highlights once again the enduring nature of the supply‐side issues.
- The German PV selling rate decreased to 2.6 mn units/year. In France, the PV selling rate dropped to 1.4 mn units/year, from 1.7 mn units/year in December. For Italy, the PV market nosedived to 1.2 mn units/year, the lowest result since May 2020. Like Italy, Spain’s PV selling rate dropped significantly, to 600k units/year, compared to 1.1 mn units/year in December. In contrast to its European counterparts, the UK saw a slight increase, to 1.7 mn units/year, compared to 1.6 mn units/year in December.
- As global production continues to be limited by a lack of parts, particularly microchips, supply shortages remain the number one drag to better market results, with this expected to remain a key feature of the automotive landscape for 2022. While we expect the situation to improve as the year goes on, the 2022 PV market annual result will remain well short of pre‐pandemic levels.
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