Global production of light vehicles down 7% from 2019
- Global light vehicle production (passenger cars and light utility vehicles) over the first eight months of 2021 shows an increase of 16.7% compared to the first eight of 2020 but a decrease of 7% compared to the first eight months of 2019. The volume reached 51 million vehicles, compared to 44 million in 2020 and 55 million in 2019.
- The delay to 2019 has therefore not yet been closed and it is unlikely that it will be before the end of the year. It is to remind that the year 2019 had already been itself down compared to 2018, and the year 2018 had also been down compared to 2017.
- Regarding the production of passenger cars (PCs), it increased by 16.3% over the first eight months of 2021 compared to the first eight months of 2020, but decreased by 15.8% compared to the first eight months of 2019.
- Regarding the production of light utility vehicles (LUVs) , it increased by 18.5% over the first eight months of 2021 compared to the first eight months of 2020, but decreased by 3.2% compared to the first eight months of 2019.
- What is quite striking when we observe the curve of the monthly production in 2021, it is the drop in the production from the month of May compared to the monthly production in 2019, which was amplified until August. It is likely that the lack of semiconductors supply is partly responsible for this dropout but it is also perhaps a drop in demand in developed countries which would be linked to the uncertainty of the economic environment but also to the policy of reducing emissions from cars, which would push potential customers to delay the renewal of their cars and to keep their them longer.
Contact us: info@inovev.com