European Auto Sales Will Advance In 2023, But Profits Likely To Wilt

Europe’s automakers pleased investors with strong profit reports for 2022 but they will be raising eyebrows as some experts see deteriorating earnings prospects for this year.

The consensus view is that sales in Western Europe will increase strongly this year to almost 11 million compared with last year, but that still leaves the market seriously short of pre-Covid’s 14.29 million in 2019. The consensus starts to falter though when profitability comes under the microscope.