Europe car sales continue rebound on easing supply snarls
BloombergAuto sales in Europe climbed for a fourth month in November as supply-chain issues continued to ease, though a worsening economic outlook threatens to hurt demand in the coming months.
Deliveries have improved in recent months as shortages of semiconductors and other components improved. Order books have remained full, which should help earnings through early 2023. But the industry has yet to recover to pre-pandemic levels and probably won’t be able to avoid a third consecutive year of decline, according to Bloomberg Intelligence.
“We assume 2023 will comfortably outpace 2022, though we are a little more cautious,” the analysts said, trimming their sales forecast for Western Europe to below 11 million.AG flagged this week that electric-vehicle sales in Europe had “gone off track” in recent months as surging energy prices started hurting demand.have been relatively resilient this year, and automakers are still benefiting from unfilled orders accumulated during the height of their supply-chain crises.
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