Slight rebound in European plant utilization rates

After achieving an average utilization rate close to 80% in 2017, 2018, and 2019, European passenger car and light commercial vehicle plants were significantly impacted by the COVID-19 crisis in 2020, the semiconductor shortage in 2021, and the supply chain disruption caused by the war in Ukraine in 2022. Consequently, the average utilization rate dropped to 61-62% over those three years. In contrast, 2023 saw a modest recovery, with the utilization rate rising to 67%. However, this figure remains far below the pre-2020 level of 80%.