The global automotive market is down 10.4% over 7 months 2022
- The global automotive market (PC+LCV) is down 10.4% over the first 7 months of 2022 compared to the first 7 months of 2021, but up 9.4% compared to the first 7 months of 2020, a year marked by the Covid crisis. Compared to 2019, the gap is still significant, since the automotive market is down 14.9%. In fact, the partial catch-up that took place in 2021 was not renewed in 2022. On the contrary, we risk ending the year below the levels of 2020, which had been the worst year since 2011.
- The growth of the global automotive market that had taken place since 1945 (despite several temporary trend reversals due to the various oil crises and the financial crisis of 2008-2009) was interrupted in 2018 and seems to be compromised for a good while for several reasons:
-The saturation of European mature markets which are also obliged to switch to all-electric motorization by 2035, which makes the acquisition of a new car more difficult due to the high price of these vehicles.
-government policy which intends to reduce the presence of cars in large cities, especially in Europe, encouraging the population to use other means of transport that are less polluting and less fuel-intensive.
-the reduction of resources which may gradually have a negative influence on the production of automobiles, and in particular on the production of electric automobiles.
-Despite this difficult context, the automotive market in emerging countries should continue to grow, due to a still low motorization rate and less restrictive vehicle motorization regulations.
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