The world car market in July fell by 6.8%

The world car market in July fell by 6.8%

August 13, 2020 0 By autotimesnews

Although many countries have already shared their July sales data, there has been no global analysis so far. Now analytical agency LMC Automotive has calculated how many cars were sold in the last month.

The fact that the coronavirus has dealt a devastating blow to the automotive sector can no longer be a secret. New car sales worldwide have plummeted. Now, however, it looks like a light is making its way at the end of the tunnel as car sales slowly recover. This has already been seen in several European countries, but new data on global sales confirms this suspicion. According to LMC Automotive, in July sales declined “only” by 6.8%.

This means that the slow growth that began in mid-April continues. At the end of June, LMC expected a sharp decline in July, but the numbers were better than expected. The analysis for the whole year looks even less rosy: so far, global sales have fallen by 25%. Ultimately, sales are expected to fall 20% by the end of this year from a year earlier. According to the agency’s forecasts, about 70 million cars are to be sold.