Edito

To paraphrase a famous French aphorism, it’s tempting to say ‘when the car industry is going well, everything is going well’. The problem is that the car industry isn’t going well: in any case, it isn’t thriving.

For several years, the automotive sector has been buffeted by headwinds ranging from health crises to geopolitical crises. These have plunged it into a slump from which it is struggling to recover. Of course, some countries, including China, the world leader in terms of production, registrations and innovations, are holding their own.

On the other hand, in Europe, a continent where, like in Germany, car manufacturing is historically a source of pride, power and wealth, the crisis is both structural and existential, with potentially devastating consequences.

Too gloomy an outlook, you say? Not really. What’s more, the statements made by the heads of the major companies in the sector do not argue in favour of more light.

L’Observatoire Cetelem has always studied the sector as lucidly and objectively as possible. It not only observes the facts, however unpleasant they may be, but also seeks to anticipate market trends.

In this new 2026 edition, while we note a worrying situation, we also identify five levers that could allow the automotive sector to bounce back to health.

This is an obligation, given the high economic and social stakes involved.

Flavien Neuvy

Director of Observatoire Cetelem