The post-lockdown rebound in West European car sales has stalled and forecasts for 2021 are being slashed, as fears of renewed coronavirus closures plus the worsening semiconductor shortage faze and thwart buyers. LMC Automotive cut its West European sales growth forecast for 2021 to 3.0% from 9.6%
The post-lockdown rebound in West European car sales has stalled and forecasts for the whole of 2021 are being slashed, as fears of renewed coronavirus closures plus the worsening semiconductor shortage faze and thwart buyers.
Meanwhile GlobalData, a data and analytics company, said its world car and SUV sales forecast for the year has been downgraded to 84.7 million, an 11.9% increase on 2020 but still almost 5% down on pre-virus 2019. GlobalData said the rebound had been a big boost for car manufacturers profits in the U.S., Europe and China as pent-up demand allowed for high margin sales.
“High-margin premium brands are doing particularly well and looking around the world, new car transaction prices are extremely high in the U.S. It's a good time to be selling new cars and trucks there - if you can supply them to market. There are tougher times ahead though.
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