Europe’s Car Output to Plummet by Millions, S&P Predicts
- Supply bottlenecks could cut quarterly car output by 1 million
- Spain, Italy, Belgium factories worst positioned, report says
Parts shortages and supply bottlenecks are likely to weigh most heavily on European automakers.
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European carmakers could see output drop by more than 1 million vehicles per quarter starting late this year and continuing through 2023, as soaring energy costs weigh on the supply chain, according to a report.
Parts shortages and supply bottlenecks are likely to weigh most heavily on automakers from November through spring of 2023, particularly if energy is cut during the colder winter months, S&P Global Mobility said in a report released Tuesday.