European exports fell by 13% in 2020
- European exports are traditionally towards the United States, China and Turkey. They held up better than expected in 2020, in particular thanks to the revival of the Chinese market in the second half of the year and the strong growth of the Turkish market. The Chinese market, which has a strong demand for European vehicles (it imported 530,000 units in 2019) grew by almost 10% in the second half of 2020 and the Turkish market has grown by 72% since the start of the year.
- As a result, European exports to China fell less than expected, dropping from 530,000 in 2019 to 450,000 units in 2020 (a loss of only 80,000 units) and those to Turkey increased, by 250,000 in 2019 to 350,000 units in 2020 (i.e. a gain of 100,000 units). European exports to the United States still represent the largest volume, with 850,000 units in 2020 against 1,050,000 in 2019 (thus showing a drop of 200,000 units).
- Finally, European exports to Russia also fell in 2020, since they represented only 65,000 units in 2020 against 125,000 in 2019. Suddenly, Switzerland is now well ahead of Russia (with 170,000 units in from Europe) as well as Norway (110,000 units), these two countries not being part of the European Union and therefore part of the foreign regions of European automobile exports, according to the Eurostat definition.
- Overall, European exports fell down by 13% in 2020, which is a better performance than the 15% drop in global sales (and even 25% in Europe) or the 17% drop in global automobile production.
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