Europe’s auto sector will be hit hard by the energy crisis, with a study from S&P Global Mobility showing that production could fall by more than one million cars per quarter over the coming months, starting late this year and continuing into 2023.
Analysts say parts shortages and supply bottlenecks will weigh heavily on automakers from November through the spring of 2023 and that things could get worse if power is cut off during the winter months.
Despite the attempts of European governments to remedy the energy crisis and reduce its consequences as much as possible, they practically fail to protect the car industry market, and the study confirms that supply models may face major problems in the coming period, which will lead to the suspension of shipments of completed vehicles due to the lack of individual components.