Always lower.
This year, the European car market is expected to decline further.
Acea (Association of European Automobile Manufacturers) expects only 9.6 million units sold, 1% less than in 2021. Above all, - 26% compared to the year before the pandemic, 2019. A real fall.
Admittedly, after thirteen consecutive months of decline, sales rebounded by 4% in August.
But since the beginning of the year, the market is down 11.9%, with only nearly six million cars sold.
The reasons for this drop are not to be found on the demand side.
So far, European households have always been eager to buy cars.
On the other hand, manufacturers are unable to provide enough because of the shortage of semiconductors.
Manufacturers of these microchips who fail to produce or ship enough of them prefer to first serve smartphone brands, which pay more for these products.
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With a stabilization of chip supply in sight, Acea predicted a rebound in car sales in the second half.
But the war in Ukraine, which is causing consumers to lose purchasing power, has dampened this enthusiasm.
"Demand should suffer in the coming months from inflation and fears of a recession,"
says the Association.
To overcome these difficulties, Oliver Zipse, CEO of BMW and president of Acea, would like a European law to better guarantee the supply of critical raw materials.
In the meantime, the manufacturers are not to be pitied: thanks to the price increases they passed, they reaped comfortable profits in the first half.