According To Forbes Car Sales Will Decrease in 2020…
Car sales will decrease by 60 percent in America and 80 percent in Europe!
According to the article published by Neil Winton in Forbes, car sales will decrease by 60 percent in America and 80 percent in Europe due to the Covid-19 outbreak.
In March, sales of sedan and SUV models fell more than 50 percent in western Europe. In the USA, this decline was around 40 percent.
Car sales will decrease more
Experts predicting the market, on the other hand, announced that the situation in April was worse and stated that the graph of car sales will decrease in the automotive market would be in the form of a “V” letter.
The Western European market is the largest consumer group in the EU’s market. So much so that among the countries in this location, there are highly developed countries such as Germany, England and France, both in the industry and automotive sector.
However, a decrease of 80 percent is expected in countries in this region, especially in April. In the USA, the expected decline in April is 60 percent.
In the study published by LMC Automotive, car sales in Western Europe decreased by 52.9 percent in March to 774 thousand 280 units. When this percentage is compared to the previous year, it is estimated that annual car sales will decrease by 22.1 percent to be 6.6 million.
This decline was created with the loss of 85 percent of Italy, 72 percent of France, 44 percent of Britain and 38 percent of Germany.
Sales in the USA decreased by 38.6 percent to 983 thousand 174 units. This is not worse than the country’s economic crisis in February 2009. At that time, the market had decreased 41.4 percent.
According to the report of LMC Automotive Augusto Amorin,
“The automobile sales in America will be worse in April and May. In addition, 14.2 million light vehicles will be sold by the end of the year.
However, these predictions were made before the Coronavirus outbreak, and now these predictions need to be revised. ” made the explanation.
Frank Schwope, an analyst at Norddeutsche Landesbank Girozentrale, said sales in Western Europe almost stopped this month.
“In our opinion, life in Germany will begin to normalize until April 19, but it doesn’t look like much in Europe. Sales will display an unprecedented decline of over 80 percent. In America, there will be a 60 percent decline in April. ”
It is also estimated that sales in Europe will increase as “V” after half of 2020. According to the latest data announced by LMC, sales of cars and SUVs in Western Europe will decrease by 18.3 percent. The market had risen 0.7 percent in 2019.
According to the estimates of IHS, the situation is a bit more pessimistic. In Western and Central Europe, 2020 car sales will decrease by 13.6 percent and there will be 15.6 million units. However, the increase will increase by 4.2 percent in 2021, 4.3 percent in 2022 and 1.4 percent in 2023.
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