Motor vehicle sector: explaining the drop in output and the rise in prices

Roberto A. De Santis, Martina Di Sano, Vanessa Gunnella and Pedro Neves

Economic Bulletin Boxes, 2022, vol. 7

Abstract: Euro area motor vehicle output fell by approximately one-third between June 2018 and July 2022. This can be explained by factors associated with the more stringent emissions tests implemented in the EU, the EU regulation on carbon dioxide emissions, the transition towards electric vehicles, supply chain disruptions, the rise in energy costs and, more recently, the increasing macroeconomic uncertainty related to the war in Ukraine. Euro area car exports also decreased at the same time. The transition to greener motor vehicles and the future evolution of supply bottlenecks are key factors shaping the outlook for euro area car production and exports in the coming years. JEL Classification: E31, E32, F10, L62

Keywords: car exports; car inflation; Car production; export market shares; green transition; supply bottlenecks (search for similar items in EconPapers)
Date: 2022-11
Note: 185689
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