European LCV market fell 24.7% in the first quarter of 2020

The European automobile market in 29 countries for light commercial vehicles fell by 60.9% in March 2020, to 93,373 units. In the quarter, the European market for 29 countries fell 24.7% to 422,378 units. This sharp drop recorded in March 2020 (steeper than that recorded by VPs) is due to the coronavirus crisis which led to the closure of factories and car dealerships in the middle of the month, and of course to the confinement of the population and the '' shutdown of activity of many companies. This decline is the largest since World War II, as even the successive oil shocks and the 2008/2009 financial crisis had no such impact on sales and production of light commercial vehicles in Europe. And when we know that LCVs are bought by businesses, artisans and traders, it is not certain that sales of LCVs will restart quickly due to the economic crisis of an unprecedented scale which should follow the health crisis. .


Over the whole year, the European LCV market could therefore fall by 30% in an optimistic scenario and by 40% in a pessimistic scenario.


The results by manufacturer are not yet known, but by country, we observe that the most affected are Slovenia, Sweden, the United Kingdom, Spain, Italy, Lithuania, the Czech Republic and France.


The least affected countries are Bulgaria, Denmark, Norway, Slovakia, Hungary, Finland and Germany, and therefore more of the countries of Northern and Central Europe, where confinement was more flexible.


20-10-5
    
 

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