Source: ECG, 2020-10-27
European new vehicle sales have been devastated by the coronavirus pandemic and national lockdowns imposed earlier this year. In the first nine months of 2020, sales declined around 29% across the EU, UK and EFTA compared to the same period in 2019.
However, there are signs of recovery in vehicle demand and production. Markets have seen the release of pent-up demand, while economic and specific automotive stimuli have helped overall new vehicle sales approach the level of monthly volumes seen in 2019 in a number of major markets. Underlying demand for private transport also remains strong.
However, will the recovery be short lived? What can we expect in the coming months and what are the opportunities and implications for the future of the industry?
With Covid-19 infection levels rising across Europe bringing with them further economic restrictions the prospects of a V-shape recovery in the relative short term are fading.
Join us on 17 November to hear from our experts on what the industry can expect.