Video: How The Coronavirus Affected Car Sales In Europe
Due to the coronavirus pandemic and the quarantine introduced in many European countries, sales of new passenger cars in this region decreased by half in March: 774.3 thousand cars were sold. According to the results of the first quarter, the decline was 27.1%, 2.759 million cars were sold.
According to experts, if the spread of the coronavirus slows down in the coming months and the market can recover quickly, then even taking into account the deferred demand, sales by the end of the full year will fall by 22.1%, to 11.133 million units.
|Country||March 2020 thousand pcs.||Dynamics %||January March 2020, thousand pcs.||Dynamics, %|
The strongest drop in sales was in Italy (minus 85.4), where restrictions on the operation of trade enterprises, including automobiles, were introduced in the first half of March. A little later, similar measures were taken in other large markets - in Spain and France, where a significant decline was also recorded.
Finland (minus 0.9%) and Sweden (minus 8.9%), where there are still less severe restrictions on the work of organizations, noted the minimum decrease.
At the end of the quarter, the strongest drop in demand was again in Italy, more than others affected by the pandemic: minus 35.6%. Finland has the best indicator: only minus 2.9%. The Netherlands and Sweden also fell slower than the market, where sales declined by about 10 percent.
Experts expect the negative trend to continue in the coming months. A recovery in demand may happen in the second half of the year, but due to the deteriorating economic situation in most countries and the inevitable rise in unemployment, the market recovery will have to wait much longer.