Car companies are generating a substantial increase in turnover due to price increases

Last year, turnover in the car and motorcycle sector was 17.6 percent higher than in 2021 and even 24.5 percent higher than in 2019, the last year before the corona pandemic. The industry appears to have recovered. The increase in turnover is mainly due to price increases. New passenger cars have become more expensive, but used cars and parts have also increased considerably in price in 2022.

The impact of the corona crisis was significant. Factories closed their doors, showrooms were not accessible to customers and there was a worldwide shortage of microchips and wiring harnesses, among other things. In the ‘Trade in and repair of passenger cars’ subsector, turnover increased by 20.8 percent in 2022 compared to that of 2021. If we compare the turnover in that subsector with that of 2019, we see a turnover increase of no less than 36.7 percent. In the second half of 2022 in particular, the chip shortage held the car industry less in its grip. The fact that relatively more electric and therefore often more expensive cars were sold had an effect on turnover. In the last quarter of 2022, the subsector saw its turnover increase by almost 28 percent.