The automobile industry has just experienced a very difficult September in Europe. Sector giants like Audi, Tesla and BMW are showing figures in the red, for the second time in as many months. After a spectacular, but expected, fall in August (-17% of sales compared to last year), the month of September was supposed to be that of return to business, it is instead that of confirmation of the crisis.

In its latest market analysis report, the Bloomberg Intelligence (BI) group estimates that the market is expected to contract by a further 3.5% over the entire 4th quarter, a drop in sales that could lead to overproduction and a the temporary shutdown of some production sites.

A still complicated year 2024?

Analyst Michael Dean explains that the current economic instability is not helping households make substantial purchases. They are in a waiting position and hoping for a more interesting opportunity in the coming months before checking out.

According to him, the September figures are only the beginning. If automobile brands continue to implement discounts to attract new customers, they are still far from reaching their audience. The analyst expects a new complicated period in this last quarter of the year, with the months of October and November clearly in the red.

It will be necessary to monitor the evolution of these quarterly results for all manufacturers, who have already, as a whole, produced poor results during the first half of the year.

The end of opulence?

Sales of new cars, particularly electric ones, are at a standstill in Europe and manufacturers actually know very well why. The first phase of shipments is complete. People interested in electric cars have one, they have no reason to change it. These “primary buyers” are the first to enter a market.

The automobile manufacturers must now manage to bridge the gap between the first buyers and the general public. The latter is not looking to have a luxurious or technological car. The first selection criterion is price.

Autonomy and charging time will also be closely monitored, but the announcement of electric cars priced at less than 25,000 euros (which should soon arrive) places the automobile market in a waiting phase. , with customers patiently waiting.

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