In April the SAAR, seasonally adjusted annualized figure for auto sales in the US market grew to 18.5 million, the highest figure in the 2019-20 two-year period. The annual comparison is worthless given that last year it was severely impacted by the pandemic (down to 8.6 million)
As in previous months, the Equita Sim experts say, we believe that the price-mix effect can partly mitigate the inefficiencies due to the shortage of components. In Europe, April is recovering compared to last year’s lockdown, but remaining at levels well below 2019. The car + LCV market in France (~ 10% of Stellantis volumes) scores 181 thousand units from 28 thousand last year (+ 54% YTD) of which 140,000 cars (+ 51% YTD) and 40,000 LCVs (+ 68% YTD). The figure is 22% lower than the 2019 level (18% lower than the first 4 months of 2019. Stellantis underperformed with 69 thousand units from 13 thousand last year (+ 47% YTD).
The car market in Italy (~ 9% of Stellantis volumes) scores 145 thousand units from 4 thousand last year (+ 68% YTD to 592k), 17% below the level of 2019. Stellantis underperformed with 58.5 thousand units from 2.7 thousand last year (+ 68% YTD).