European Car Production Could Plummet Due To Energy Crisis | Carscoops carscoops
Car production in Europe could fall by more than 1 million vehicles per quarter due to its ongoing energy crisis.
S&P Global Mobility believes that output could begin to fall starting late this year and continue through 2023. Analysts state that parts shortages and supply bottlenecks will weigh most heavily on automakers from November through the spring of 2023 and that things could get worse if energy is cut during the winter months.
While governments in Europe are trying to minimize the impact of the energy crisis, the measures taken may not be enough to shield the automotive industry from production halts. S&P Global Mobility says that just-in-time supply models could face problems and that factories may have to halt “shipments of completed vehicles due to shortages of single components.”
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