Read our monthly update on global car production, new car sales in key markets, export levels and imports into Australia.
- Weekly Market Update 16th May 2022
- Weekly Market Update 9th May 2022
- Weekly Market Update 2nd May 2022
- Weekly Market Update 25th April 2022
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Global Car Production
- While there were hopes of a strong recovery this year, issues related to chip shortages have dampened these prospects
- With the exception of China, most nations have changed towards a negative direction
- A recovery in global production has stalled with a longer than anticipated road to pre-pandemic levels
- This has filtered into exports from large manufacturing bases, increasing the level of volatility in imports coming into Australia
- The next 12 months is likely to be a challenging environment in Australia for sourcing stock outside of China
- Opel shutting down German plant till 2022
- Shortage in magnesium could further production shutdowns
- Car shortages putting world economy at risk
- Car rental prices in Australia are at record highs
- Japan is down 11% through August 2021
- South Korea is down 11% through September 2021
- The US is down 31% through September 2021
- Germany is down 26% through September 2021
- The UK is down 28% through September 2021
- China is up 3% through September 2021
International Car Exports
The latest government figures show the following 12 month rolling changes in car export volume from the large car manufacturing nations:
- South Korea is down 13% through September 2021
- Japan is down 16% through September 2021
- The United Kingdom is down 18% through September 2021
- Germany is down 25% through September 2021
- The United States is down 19% through August 2021
Indications from October figures suggest car production and export levels around the world are facing obstacles due to chip shortages.
Despite these challenges demand is proving strong worldwide with increasing demand in used cars as well.
Car Imports into Australia
- Car Imports fell in September 2021 from the prior month, recording a figure of $2.908 billion according to latest ABS figures
- This represents a decrease of $102 million (-3.3%) compared to September 2020
- The rolling 12 month change shows imports are up 16% compared to 2019
- Stock supply entering Australia had been picking up pace recently but is facing increasing volatility due to production issues overseas
New Car Sales
- In North America, the US is down 8.5% while Mexico is down 28.4% through October 2021. Canada is down 10.6% through August 2021
- In Europe, Germany is now down 18.8% through September 2021
- The UK is down 23.3% through September 2021
- Spain is down 27% through September 2021
- France and Italy are down 18.5% and 15.5% respectively through September 2021
- In the Asia Pacific region, Australia and New Zealand are both up 1.8% and 1.6% respectively through October 2021
- Japan is down 12.4% in October 2021 while South Korea is down 3% through September 2021
By Tanim Ahmed, Head of Product at Datium Insights
Tanim is a Macquarie University alumni with degrees in Finance and Economics. He has spent a decade in the Leasing and Finance industry, specializing in Residual Value risk.
Please contact Datium Insights for further analytical support and advisory services.
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