The decline in new car sales in the world by the end of the year will be 22%

The decline in new car sales in the world by the end of the year will be 22%

April 23, 2020 0 By autotimesnews

Analysts at IHS Markit believe that by the end of this year, machine production will decrease by 21%, and their sales – by 22%.

In absolute figures for the year in the world can be sold only about 70.3 million new cars. The recovery of the industry will be slow, despite the opening of factories in China. This is due both to several months of quarantine due to the coronavirus and to disruption of the supply chain.

“Market prospects are mixed, as deferred and shattered demand is combined with large-scale disruption of global supply chains,” said Colin Kauchman, head of the analytical agency.

The largest drop in sales is expected in the US market – the second largest in the world in sales. So, in the USA, the sale of new cars may collapse by 27%, to 12.5 million. At the same time, in Western and Central Europe – by 25%, to 13.6 million, in China – by almost 16%, up to 21 million units. By the way, China is recovering very quickly after a pandemic that has paralyzed the whole country.