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Automotive and motorcycle industry achieve great sales

November 30, 2022

Catching up with automotive industry

The 20.5 percent increase in sales in the automobile and motorcycle sector marked a catch-up after parts shortages in earlier periods. The labor shortage was lower at the beginning of the fourth quarter than a quarter earlier. The increase in sales was mainly due to price increases.

More electric cars sold, which are more profitable

CBS reports, “Sales of passenger car trade and repair increased 24.3 percent in the third quarter compared to the same quarter of 2021. This is the largest increase in sales in the entire industry. This increase in sales was mainly due to price increases; used cars have never been more expensive. The declining chip shortage caused more new cars to be sold. Also, more and more electric cars are being sold, they are more expensive than combustion engine cars.”

Importers also farm well

Sales by importers of new passenger cars rose 18.5 percent. A year ago there was still a decline. CBS: “Chip shortages are decreasing. Car production increased as a result. Heavy-duty vehicle trade and repair sales increased 17.4 percent compared with the third quarter of 2021. Price increases also played a role here.

Specialized repair shops

Sales of specialty repair shops and auto parts trade increased 12.5 percent and 13.7 percent, respectively. CBS: “Again, price increases in such items as tires and other parts are the main driver of sales growth.”

Turnover motor industry

Motorcycle industry sales increased 10.6 percent. Price increases also play a role here. In addition, sales of electric motors are on the rise. These are more expensive than traditional engines.

Figures staff shortages and vacancies

The strained labor market is also noticeable in the auto and motorcycle industry. More than a third (34.9 percent) of business owners said they would face a labor shortage by the beginning of the fourth quarter of 2022. However, the labor shortage remained the same from the beginning of the third quarter. In the third quarter of 2022, the auto motor industry had 8,500 job openings. The second quarter was 9,800, the highest number since 1997. This is the first decline in job openings since the second quarter of 2020.