LUV sales have been declining in Europe since July 2021
- Sales of light utility vehicles (LUV) in Europe (29 countries including Great Britain) increased this year until June 2021 to almost matching the volume observed in 2019, as the volume for 2020 was strongly impacted by the lock-down and closures of factories and dealerships in March, April and May 2020.
- The decline in LUV sales in Europe started from July 2021, where we see a sharp drop compared to 2019 and even compared to 2020 which at that time had a beginning of recovery.
- This drop in LUV sales in Europe cannot seem to be explained solely by the shortage of semiconductor supplies, as this "crisis" did not start last July but much earlier, according to the carmakers.
- There is undoubtedly another phenomenon which is added to this problem of semiconductors. And it cannot be either the switch of the light utility vehicles market towards battery electric, as the electric motorization represents only 2% to 3 % of LUV sales in Europe in 2021. A figure much lower than what we can observe in the category of passenger cars (passenger cars) and which reached almost 10% over the first 10 months of 2021.
- Suddenly, the increase in LUV sales in Europe, which was +27.4% over the cumulative of the first 8 months of 2021 compared to the same period of 2020, fell to +20.1% over the cumulative 9 first months and +15.6% on the cumulative amount of the first 10 months. At this rate, it could decline to + 10% over the cumulative amount of the first 11 months and + 5% over the complete year.
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