Europe still far from restarting
- As China slowly reboots, Europe is in the midst of the Covid-19 crisis, which means that its car factories and dealerships are nearly all shutdown, and will likely remain so throughout the month of April.
- Under these conditions, the European market is expected to fall by around 50% in March, while the factories and concessions were still active for the first 15 days of the month. April is likely to see a market in the range of -70% to 100%. After April, everything will depend on whether or not the confinement will be extended and whether demand will exist as it should have been in April and May, and in the following months.
- All forecasting organizations predict a fall in the European and global auto market in 2020, but none agree on its intensity. ACEA predicts a fall of between 10% and 25% in 2020. Moody's plans for its part a fall of 14% in the world market in 2020, counting on a vigorous recovery at the end of the crisis.
- IHS Markit expects global auto sales to 78.8 million units, down 12% in 2020 from 2019. For Europe, IHS expects demand of 15.6 million units , down 13.6% compared to 2019. Concerning the USA, 14.4 million units sold in 2020, representing a decrease of 15.3% compared to 2019. In China, IHS revised the demand down 10% in 2020, with sales forecast at 19.3 million units for the year.
- Inovevremains on its forecast of -15% to -45% of sales on the European market, according to the aid implemented by the various governments.
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