The global market (PC + LUV) fell by 4.2% in 2019
- The global automobile market (PC + LUV) fell by 4.2% in 2019 to 88.9 million units, while it had already fallen by 0.3% in 2018 to 92.9 million units. This is the second time since 2009 that the global automotive market has declined, and it is also the largest decline in this market since 2009.
- The Chinese automobile market is the main reason of this global market drop, since this market fell by almost 10% in 2019 (-9.6% to be precise). However the slowdown in global growth, mainly due to trade tensions between the United States and China, led to the decline of most markets, except Europe and Brazil in particular.
- Inovev forecasted in 2018 that 2019 would be a difficult year and that is what happened. The year 2020 should not see the situation really improve since the forecasts for the Chinese market will be around -5% and that the American market could post a slight decrease compared to 2019.
- As for Europe, it should be impacted by the anticipated purchases made at the end of 2019 and should suffer mainly from a gloomy economic situation in Germany, which has seen the volume of its car production decrease in recent years. Brexit should also add to the difficulties of the European car market. The other countries in the rest of the world are still often recovering, some have not yet reached the bottom of sales, so it can be said that these countries will globally still decline in 2020. All in all, the global automobile market could show a fall between 2% and 3% in 2020.
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