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Thursday, 04 August 2022 13:35

Carmakers Start to See Weaker Demand Amid Inflation Squeeze

Written by Victoria Waldersee, Reuters

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Carmakers are reporting lower demand in Europe and North America amid what analysts say is growing evidence that consumers are balking at higher prices and keeping their cash for necessities.

Although some upmarket brands like Ferrari and Mercedes-Benz have raised sales forecasts due to continued high demand for top end models, the outlook for the bulk of the industry is bleaker.

 

Waiting times on new orders are becoming shorter as order books thin out. That's even with production slower than usual and deliveries well below last year, executives said.

 

To read more, see Reuters.