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.
That is what’s happening. The manufacturing sector (not just cars but steel and chemicals as well) are the first to be rationed or cut off from gas to keep enough left for electricity generation and heating. Many companies have already reduced or entirely stopped their production due to increasing gas costs.
That is what’s happening. The manufacturing sector (not just cars but steel and chemicals as well) are the first to be rationed or cut off from gas to keep enough left for electricity generation and heating. Many companies have already reduced or entirely stopped their production due to increasing gas costs.