Over 4 months 2021, global production is nearly 15% lower compared to 2019
- The volume of global automobile production (PC + LUV) increased by 30.7% in the first four months of 2021, compared to the first four months of 2020. But this period of last year had been severely hampered by various plant closures around the world, as a result of the coronavirus crisis (Covid-19). This comparison is therefore irrelevant, and this is the reason why it is preferable to establish a comparison with the first four months of 2019. This comparison thus shows a negative difference of 14.4% in 2021 compared to 2019.
- This means that the volume of world automobile production in the first quarter of 2021 is nearly 15% lower than that of the first quarter of 2019. This drop in production can be attributed to the problem of semiconductors supply, because many plants had to shut down, but we can also conclude that demand has fallen slightly compared to 2019.
- This gap is also higher than the global sales (-4.5%) one, which means that the start of 2019 was marked by the increase in stocks for a year which represented 89.4 million units sold and marked the fourth best year of the decade. It can also be assumed that stocks are now declining.
- By country, China keeps its leading position, in the first quarter of 2021, with 31% of the global production, ahead of Europe (19%), the United States (12%), Japan (12%), India (6%) and South Korea (5%).
Contact us: info@inovev.com