S&P Global Ratings calculates it will be two years before the global car market picks up and blames weakening demand despite supply chain issues easing.
The credit rating agency said worldwide car sales were likely to be flat this year, with Europe performing the worst of all regions and it’ll be late 2024 at the earliest before sales even get near 2019’s level of 90m.
Volkswagen is holding 150,000 unfinished cars due to parts shortages, it said last week.
Now the German giant is considering how it will equip their next generation of cars so they are less complicated to build and possibly return to push button controls instead of touch-screens on some models.
China’s biggest electric car maker BYD has overtaken Tesla sales in China as it posts record returns and looks at expansion including coming to Europe and concerning Continental manufacturers who are seeking tariff and sales restrictions.
Profits have soared over 280% in nine months and they are currently up 350% on the same time last year.
Four Welsh soccer fans have set off for the World Cup – in an electric car.
They hope to make the 5,000 miles road journey in an MG from Nathaniel Car Sales, Bridgend, who support Welsh Football Association, across Europe and through the Middle East and arrive three days before Wales play their opening game in the event.