European production increases by 6.3% over the first 9 months of 2021
- In the first 9 months of 2021, European (EU + Great Britain) production of light vehicles (PCs + LUVs) reached a volume of 10,076,343 units. It has therefore grown by only 6.3% during the first nine months of 2021 compared to the first nine months of 2020. Compared to the first nine months of 2019, European production is down by 25.7%.
- This sharp decline is not due solely to the semiconductor crisis, which despite the duration remains a cyclical crisis (it should continue beyond summer 2022). There are also structural causes, relating to a drop in Europe demand. It can be argued that the various announcements restricting access to the purchase of cars create uncertainty, can influence potential customers and encourage them to keep their current vehicle longer before replacing it: bonus-malus system, restrictions on traffic in big cities, promotion of new ways of individual transport, announcements concerning the end of diesel and the more distant end of thermal, and at a same time, a relatively dissuasive price of electric vehicles.
- It is possible that we will never come back to the level of registrations and production of the best years in Europe.
- It is also instructive to note that the growth in European production in 2021 compared to 2020 is due almost solely to the growth in the production of electrified vehicles (hybrids, plug-in hybrids and battery electric), as these represented 1,245,000 units produced over the nine months of 2021 (525,743 BEVs, 528,532 PHEVs and 190,450 HEVs) compared to 640,153 units over the nine months of 2020 (253,733 BEVs, 262,276 PHEVs and 124,144 HEVs), while production thermal vehicles remained stable (8,831,343 units in 2021 against 8,830,144 in 2020).
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