Global automobile production will fall by 17% in 2020
- Global automobile production (passenger cars + light utility vehicles) fell by 21% over the cumulative for the first ten months of 2020, compared to the first ten months of 2019. This drop is distributed as follows: -21.1% for passenger cars and -19.6% for light utility vehicles.
- This decline in vehicle production in 2020 is the result of the coronavirus crisis, which affected the whole world but more particularly the populations of Europe and America, those located in Asia having been less affected. The decline in vehicle production was especially significant during the spring of 2020, when most of the major countries have been locked down.
- The volume estimated by Inovev over the first ten months of 2020 is 58.9 million vehicles worldwide (PC + LUV) against 73.4 million units the previous year, which represents a decrease of 14.5 million vehicles (-21%).
- But not all countries have experienced the same evolution in their automobile production. In addition to the fact that the lock-down of the population did not take place at the same time, some countries restarted sooner than others (such as China), not to mention that other countries were less affected by the pandemic (Japan, Korea). Based on these elements, Inovev expects global automobile production to fall by 17% over the whole of 2020. This drop would represent a loss of 15 million vehicles compared to 2019, the largest decrease recorded since the end of World War II. The volume reached in 2020 would thus return to the level of 2011.
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