The European light utility vehicle market down 23.7% over 9 months 2020
- The European market (29 countries) for passenger cars (PCs) fell by 29.3% over the nine months of 2020, compared to the same period of 2019. The market of light utility vehicles (LUVs) fell by 23.7% year-to-date for the first nine months of 2020, compared to the same period of 2019.
- We observe that the LUV market has suffered less than the PC market, surely because private customers have been more affected by the lock-down and the fear of the next day, while companies, even if they have reduced their purchases of vehicles, partly continued to renew their vehicle fleet.
- The most important markets for LUVs remain France (which benefits from company car registrations based on PCs which represent 12.5% of the French LUV market), followed by England, Germany, Spain and Italy.
- The LUV markets that were most affected by the crisis in 2020 are Slovenia (-43%), Sweden (-41%), Spain (-33%), Portugal (-34%), Romania (-30%), Croatia (-28%) and England (-27%). Germany (-19%) and France (-20%) were less affected. It is to be noted that the Eastern Europe countries were impacted as much (-25%) as Western Europe countries (-24%).
- England, in addition to the coronavirus crisis, is suffering from the results of Brexit negotiations, which it is still unclear whether it will lead to a free trade agreement or not.
Contact us: info@inovev.com