Business

Cars will become even scarcer and more expensive this year

Deal forecast

Cars will become even scarcer and more expensive this year

DIE WELT photo shoot 27.09.-07.10.2016

Ferdinand Dudenhoeffer Ferdinand Dudenhoeffer

Ferdinand Dudenhoeffer

According to a forecast by automobile expert Ferdinand Dudenhöffer, vehicle sales will drop below the level of the 2020 Crown crisis. In China, sales are also likely to decline. This also has an impact on prices.

D.The global auto market is threatening to contract this year. Ferdinand Dudenhöffer of the Center Automotive Research (CAR) in Duisburg predicts it. “Cars have gotten scarce,” he says. Semiconductors have been missing for months, lockdowns in China are currently slowing logistics and the war in Ukraine has also affected companies in Europe.

According to his forecasts, sales on the global auto market in 2022 will drop below the level of the Corona crisis in 2020. He expects only 67.6 million cars to be sold worldwide, a decline of 5.3%. compared to the previous year.

read also

A transit point for Russian gas in Ukraine

Dudenhöffer predicts a 9% decline in the US and 6% in Germany. In China, sales are also expected to decline by 2.1%. If this prediction comes true, the automotive market would shrink below the 2012 level. According to CAR, the sector recorded a record sales in 2017 with 84.4 million newly registered cars.

Dudenhöffer’s prediction is more pessimistic than that of other institutes. Information service IHS Markit, for example, lowered its forecast for the global auto market in mid-April, but still speculates on growth. BMW boss Oliver Zipse predicted sales at the previous year’s level for him in 2022 at the annual general meeting.

read also

Flour has recently become scarce in many places

read also

Advertising Invest in greenery

But he also warned: “The situation in the world remains tense”. Dudenhöffer explains that supply chains have become full of holes: “And when things go well again, we will be in 2023”. ‘only heard in new cars, even used ones are rare.

This has an impact on prices. As early as 2021, manufacturers canceled discounts and phased out inexpensive vehicle variants. Now they have to pass on the rise in raw material prices and the costs of underutilized factories to fewer vehicles. “Further price increases are to be expected in the coming months,” says Dudenhöffer.

The automakers say the same thing: “It cannot be ruled out that further price increases will be needed,” said Hildegard Wortmann, Volkswagen’s Sales Director at the Group’s Annual General Meeting this week.

This is where you will find third party content

To view embedded content, your revocable consent to the transmission and processing of personal data is required, as providers of embedded content as third-party providers require such consent. [In diesem Zusammenhang können auch Nutzungsprofile (u.a. auf Basis von Cookie-IDs) gebildet und angereichert werden, auch außerhalb des EWR]. By setting the switch to “on”, you agree to this (which can be revoked at any time). This also includes your consent to the transfer of certain personal data to third countries, including the United States, pursuant to Section 49 (1) (a) GDPR. You can find more information about it. You can withdraw your consent at any time via the switch and via privacy at the bottom of the page.

You can listen to our WELT podcasts here

To view embedded content, your revocable consent to the transmission and processing of personal data is required, as providers of embedded content as third-party providers require such consent. [In diesem Zusammenhang können auch Nutzungsprofile (u.a. auf Basis von Cookie-IDs) gebildet und angereichert werden, auch außerhalb des EWR]. By setting the switch to “on”, you agree to this (which can be revoked at any time). This also includes your consent to the transfer of certain personal data to third countries, including the United States, pursuant to Section 49 (1) (a) GDPR. You can find more information about it. You can withdraw your consent at any time via the switch and via privacy at the bottom of the page.

“All About Stocks” is the daily snapshot of WELT’s corporate editorial staff. Every morning from 7 am with the financial journalists of WELT. For stock market experts and beginners. Subscribe to the podcast on Spotify, Apple Podcast, Amazon Music and Deezer. Or directly via RSS feed.

About the author

hiyabad

Leave a Comment