Logo frontrunnerzmotorcycleclub.com
Auto 2023

Global New Car Sales Plummet 38 Percent

Global New Car Sales Plummet 38 Percent
Global New Car Sales Plummet 38 Percent
Video: Global New Car Sales Plummet 38 Percent
Video: Here's why HONDA Sales are PLUMMETING... 2023, February

Due to the coronavirus pandemic that swept the entire globe, the demand for new cars in the world fell by a record 37.9% in March compared to last year's result. In February, when restrictive measures had not yet been introduced in most countries, sales declined by only 20%, and China and Korea, where at that time the epidemic was already at its peak, had the greatest impact on statistics.

According to the results of the first quarter, world sales decreased by 23.9%, but the second quarter will be more indicative, according to analysts.

Region March, 2020, pcs. Dynamics, % January March, 2020, pcs. Dynamics, %
Argentina / Brazil 172,5 -27,4 617,7 -13,7
Eastern Europe 323,5 -12,8 893,0 -2,7
Western Europe 883,5 -52,6 3142,8 -26,9
Canada 98,4 -46,1 331,3 -19,5
China 1327,5 -45,6 3501,3 -43,9
Korea 169,1 9,9 380,4 -6,2
USA 983,2 -38,6 3468,7 -12,9
Japan 574,7 -8,9 1356,3 -10,1
Other countries 1006,6 -29,7 3416,6 -14,5
Total 5539,0 -37,9 17108,1 -23,9

The only market that managed to gain profit in March is Korea: here the peak of the coronavirus epidemic happened in February, so in March restrictions on the movement of people and the work of organizations were relaxed. Sales in Japan look quite positive against the background of general statistics, sagging by only 9% - in this country, prompt measures were taken to prevent the spread of the disease, thanks to which it was possible to maintain the activities of many companies.

The modest minus in the markets of Eastern Europe is the result of a delayed reaction to the spread of the epidemic in the first quarter. For example, in Russia, restrictions on trading activities came into force only at the end of March.

A record drop for the quarter was recorded in China, where the peak of the disease occurred in January-February and coincided with the Chinese New Year. Already in March, the country's market began to show recovery, sagging "only" by 46% instead of 80% in February. Local manufacturers of cars and components have almost regained the pace of production. In addition, the government intends to actively stimulate sales by providing buyers with a subsidy of up to $ 1,400 (about 10,000 yuan).

Taking into account the current situation, experts predict that by the end of the year the global decline in demand for new cars will be 22%, and sales will reach 70.2 million units at best.

Popular by topic