West Europe’s passenger vehicle February selling rate saw only a modest increase to 10 mn units/year, from 9.7 mn units/year in January, according to the LMC Automotive Consultancy. “While this can be considered a step in the right direction, selling rates remain below the December 2021 number of 3.1 mn units/year or indeed the pre‐crisis result of 3.6 mn units in 2019,” LMC said. “What the latest result continues to demonstrate is that the supply constraints faced by the automotive industry remain a significant headwind to sales volumes,” LMC said.

“Our 2022 PV forecast has become more cautious since last month as supply bottlenecks are expected to be exacerbated from Russia’s invasion of Ukraine and the resulting sanctions. The selling rate is still anticipated to improve over the course of 2022 but at a slower rate than we forecast last month. Aside from the supply disruption, downward pressure is building on underlying demand through inflation and confidence,” LMC warned.