According to new patch preview:
I highly recommend to increase 222's armor or, at least, give it an armor upgrade same as M20 utility car has.
Reason:
With the new Vickers Vet 1 ability, almost every MG is now capable of dealing with light vehicles. On top of that, Soviets are getting better infantry AT with new Penals with PTRS. For Wehrmacht, the only faction having no light tanks, this is a huge disadvantage in game.
There is absolutely no need for allies any more to get an AT gun in midgame or any other AT wepaons, cause there are enough soft counters on field. Even right now without those changes Armored Cars are having problems to fight Bren/Bar blobs, cause of their high damage.
And please remember, 222s are no T70s or Luchs...they are less potent which means, a better armor won't OP them! Please keep this in mind.
And don't misread my post: Vicekers and Penal PTRS buffs are absolutely fine! I appreciate them. But I fear Wehr will get big troubles until P4 or Ostwind arrive, which mabye come too late...
222 still is the strongest light vehicles in early game(3-5 minutes).
It need 3 shot from AT or 7-8 shot by T70 or 4x Ptrs salvo to take down.
Its survivalbilty and HP are already good enough.
222 do have a auto cannon that can chase and kill other early vehicles include m20.