The declining sales of the main world manufacturers reflect the current difficulties in obtaining components. Globally, across the industry, shortages could prevent the production of 7.7 million vehicles globally by 2021.
Semiconductor shortage continues to disrupt auto production, as the world's largest manufacturers confirmed in recent days when releasing their third quarter results
A 27% drop in sales at Stellantis, or even 24% at Volkswagen: all the major automotive groups have been paralyzed by this shortage of electronic chips.
After having held up well at the start of the year, automobile factories continued to close in the third quarter, paralyzed by the shortage of certain parts, in particular these famous semiconductors produced mainly in Asia, and the difficulties of global logistics.
Stellantis, the group resulting from the merger between PSA and FCA, announced on Thursday that it had produced around 600,000 vehicles less than expected in the third quarter.
"The level of the shortage is slightly worse than expected in August. Visibility into semiconductors continues to be a difficult subject for the industry," Group CFO Richard Palmer said at the meeting. 'a press conference.
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Many factories were shut down this summer in Germany, France and Turkey, and some will remain closed until the end of 2021. In the United Kingdom, production fell in September by 41.5% over one year, its lowest level for this month since 1982.
"We are seeing supplies stabilizing," said Richard Palmer at Stellantis. The group is also maintaining its operating margin target of around 10% for the year.
Volkswagen has announced for its part that it is revising downwards its sales target for the year: the number of cars sold will be "in the order of magnitude" of 2020, while the group has so far forecast an increase "sensitive". The group still maintains its margin forecast between 6.0% and 7.5%.
7.7 million fewer cars?
Globally, across the industry, shortages could prevent the production of 7.7 million vehicles worldwide in 2021, according to AlixPartners, for a shortfall of 180 billion euros.
"This decline is largely driven by Europe," said the IHS Markit cabinet in mid-October. China, the world's largest producer of automobiles, "seems to have bottomed out, giving optimists hope."
At General Motors, revenue reached $ 26.78 billion in the third quarter, well below the $ 35.46 billion over the same period in 2020.
A crisis that is expected to continue in 2022
Ford's chief financial officer, however, stressed on Wednesday that the availability of semiconductors would probably remain limited in 2022, or even in 2023. "It's very fluid (...). We are doing everything we can to get our hands on. on as many chips as possible, "remarked John Lawler.
At Renault, according to financial director Clotilde Delbos, the month of November will be critical, then the situation should remain "tense over the first half" next and "a little less at the end of 2022".
Equipment manufacturers like Bosch, Michelin or Plastic Omnium have also seen their turnover slow: logistical difficulties affect them directly, but they are also victims of their customers, the manufacturers, who are delaying.
Go electric for GM and Ford
Only Tesla managed to increase its deliveries in the third quarter and posted record profits in the process. Boosted by an order for 100,000 cars for the rental company Hertz, the group entered the very select club of companies worth more than $ 1 trillion on the stock market on Monday.
Ford, like GM, on Wednesday reiterated their ambition to become groups gradually moving away from the construction of vehicles with thermal engines to focus on electric, autonomous cars and related services. And, in a way, look a bit more like Tesla.
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