European car output could fall by a million vehicles under severe energy outcome

S&P Global Mobility said the car industry's supply chain — already reeling from the Covid-19 pandemic and Russia's invasion of Ukraine — "may face extensive pressure" from soaring energy costs.

S&P Global Mobility has warned that, under a worst-case scenario, Europe's energy crisis could cut its car production by close to 40%, or more than 1 million vehicles, per quarter through the end of 2023.

In a report titled "Winter is Coming"' S&P Global Mobility said the car industry's supply chain — already reeling from the Covid-19 pandemic and Russia's invasion of Ukraine — "may face extensive pressure" from soaring energy costs or even power cuts.