- For the first time since 2018, the production volume in the world was much higher last year than that the sales volume. According to the OICA (International Organization of Automobile carmakers), the global production volume of vehicles (passenger cars, light commercial vehicles, heavy duty trucks and buses) reached 85.017 million units in 2022 while vehicle registrations did not exceed 81.629 million units, representing a production surplus of 3.388 million units. There was indeed a restocking at the global level in 2022.
- This production surplus offsets the production volume deficit recorded in 2020 and 2021, two years which were marked by the COVID 19 crisis and then by the semiconductor crisis. This deficit in production volume had reached 3.775 million units over the two years, with sales then being made massively from stock.
- In conclusion, there was significant destocking in 2020 and 2021 globally, as vehicle registrations outnumbered vehicles produced. Then there was a compensatory restocking in 2022 which made it possible to meet demand and reduce delivery times which had increased considerably in the two previous years due to a lack of models in dealers and a production disrupted by chaotic supplies.
- This restocking enabled world production to record growth in 2022 (+6% according to the OICA) while registrations fell by 2%.
This distortion is visible among carmakers who have seen their sales decline for most of them and the same time seen their production increase.
