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Earth's Inhabitants Are Less Likely To Buy New Cars

Earth's Inhabitants Are Less Likely To Buy New Cars
Earth's Inhabitants Are Less Likely To Buy New Cars
Video: Earth's Inhabitants Are Less Likely To Buy New Cars
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In January 2020, the demand for new passenger cars decreased by 10.4%: about 6.5 million vehicles were sold, according to LMC Automotive. Experts predict that by the end of the year, sales will drop to 87.8 million cars, which will be 2.8% less than in 2019.

  • The strongest sales fell in China (minus 20.7%, 1.88 million units), Korea (minus 14.5%, 114.3 thousand) and Japan (minus 12%, 355.5 thousand).
  • Two other major world markets sank less: Western Europe - minus 7.4% (1.165 million units), the United States - minus 0.4% (1.126 million).
  • In Eastern Europe, demand rose by 5.8% (269.9 thousand pieces). In January, 1.8% more cars were sold in Russia than a year ago (102.1 thousand units).

Experts attribute the drop in global sales to several factors. Among them are the growth of taxes in a number of large countries, as well as the outbreak of the coronavirus, which has greatly affected the Chinese car market. Specialists expect that due to the virus, car sales in China will continue to fall in the near future, and production interruptions will have an impact on the global auto industry in the long term.

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