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A German research center expects a significant increase in car prices in the world

2022-05-15T21:38:06.037Z

Berlin, SANA- The German Automotive Research Center expects a significant increase in car prices in the world and that Europe



Berlin-Sana

The German Automotive Research Center expected a significant increase in car prices in the world and that Europe will record the largest losses this year in relation to the decline in car sales.

According to the German news agency, an analysis of the center published yesterday, it is expected that only 67.6 million new cars will be sold worldwide this year, about one million fewer cars compared to 2020 and the lowest value since 2011.

The center attributed the main reason for the recession to major production problems due to the lack of materials used in the automobile industry and problems in supply chains.

The director of the center, Ferdinand Dudenhofer, explained that manufacturers will try to recover the additional costs of their unused factories by increasing prices, pointing out that with the lack of supply, companies are almost free to increase prices.

The center expects Europe to record the largest losses, with a decline of 10.1 percent on average compared to last year.

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Source: sena

All business articles on 2022-05-15

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