Hungary’s automotive production drops 15.1%
EditorialRoom 13th January 2022
Hungary’s output of automotive manufacturing, representing 23% of the country’s manufacturing output (having the largest weight) fell by 15.1% year-on-year in November 2021, a second estimate of the Central Statistics Office (KSH) showed. The decline was mainly caused by the fact that, due to the global semiconductor shortage, factories were working at lower capacity or on a one shift basis. The volume of motor vehicles manufacturing dropped by 11.5% while the manufacture of parts and accessories for motor vehicles decreased by 21%. The KSH confirmed the volume of industrial production grew by 2.6% year-on-year in November 2021. Based on working-day adjusted data production rose by 2.1%. According to seasonally and working-day adjusted data industrial output was 2.9% higher than in October 2021. The detailed data also showed the manufacture of computer, electronic and optical products accounting for almost 12% of manufacturing declined too, by 2.1%, due to the microchip shortage. On the
Read MoreDemand for new passenger cars in the EU shrinks by 23.1%
EditorialRoom 27th October 2021
Last month, European Union passenger car registrations continued their decline. Demand in the region shrank by 23.1% to 718,598 units, marking the lowest number of registrations for a month of September since 1995, according to the European Automobile Manufacturers’ Association, or ACEA which unites Europe’s 15 major car, truck, van and bus makers. This decrease in sales was largely caused by a lack of supply of vehicles due to the ongoing semiconductor shortage. For months now, a global chip shortage is disrupting automotive supply chains and production processes, with a major impact on European automakers. Last month’s weak performance was replicated at a country level, with all major EU markets recording double-digit declines: Italy (-32.7%), Germany (-25.7%), France (-20.5%) and Spain (-15.7%). Over the first three quarters of 2021, car registrations across the EU climbed 6.6% to reach 7.5 million units, as significant gains earlier in the year helped to
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