Experts predict a drop in the car market in Europe by 32%June 10, 2020
In recent months, new car sales in Europe have been hit hard. Throughout the year, a decrease of at least 32% is expected.
Due to the crisis, new car sales fell sharply. April, the highlight of the various locks, has become particularly dramatic in this regard. Although sales are now growing again, analysts at AlixPartners, a US consulting agency, expect a huge market decline throughout the year. According to them, a reduction of at least 32% relative to 2019 is planned. This means that this year it is expected to sell a total of about 14 million cars throughout Europe. Last year, this figure was 20.6 million vehicles.
The worst case scenario is not ruled out. For example, when the crisis leaves a deeper mark and the reduction reaches 36%, which is certainly more than previous expectations. This figure is also greater than AlixPartners expects for the US and China, where it is a reduction of 20% and 9.3%, respectively. Especially in China, where sales grew rapidly due to the massive transition of the population from public transport to personal. Undoubtedly, this will benefit the sale of new cars in Europe.
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