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The Global Car Market Began To Revive: Sales In May Fell By Only A Third

The Global Car Market Began To Revive: Sales In May Fell By Only A Third
The Global Car Market Began To Revive: Sales In May Fell By Only A Third
Video: The Global Car Market Began To Revive: Sales In May Fell By Only A Third
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In May 2020, 5.1 million new cars were sold worldwide - 33.3% less than a year ago. Such data are provided by LMC Automotive. In April, the decline in sales was 45%. The positive dynamics indicates a smooth recovery of the market against the background of an improvement in the epidemiological situation in most countries.

Region May, 2020, thousand pcs. Dynamics, % January-May, 2020, thousand pcs. Dynamics, %
Argentina, Brazil 76,2 -71,7 752,5 -39,5
Eastern Europe 172,1 -50,4 1189,7 -26,1
Western Europe 623,6 -57,9 4055,6 -43,4
Canada 113,2 -44,0 506,2 -36,4
China 2078,0 10,0 7575,7 -24,8
Korea 165,7 10,1 711,8 0,5
USA 1128,9 -28,8 5319,1 -22,9
Japan 215,3 -45,0 1835,7 -19,3
Other countries 513,7 -61,0 4277,6 -34,7
Total 5086,6 -33,3 26223,9 -29,7

Despite the general increase in demand, car sales in some regions were lower than in April. Among them are the countries of Eastern Europe and Japan.

In China and Korea, sales are showing positive dynamics. For China, this is the second growth in a row after 21 months of decline.

The positive situation was recorded mainly in the retail sector, while among legal entities the dynamics is worse. In the United States, sales to corporate customers fell 65%, while retail sales fell only 21.1%.

Since the beginning of 2020, the global market has dipped by 29.7% - to 26.2 million units. According to experts' forecasts, by the end of 12 months, sales may reach 64.3 million cars - this will be 29% less than in 2019.

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