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
Starting in Q4' 22 through 2023, quarterly production from Europe-based auto manufacturing plants was forecast to be in the 4-4.5-million-unit range per quarter - predicting moderate growth.
Auto forecaster S&P Global Mobility warned on Tuesday that, under a worst case scenario, Europe s energy crisis could cut its car production by close to 40%, or more than 1 million vehicles, per quarter through the end of 2023.