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ČS: Automotive market in Europe to drop by about 25%

(ČIA) Whereas vehicle production in the Czech Republic in April 2020 dropped 88% to 14,650 compared to pre-crisis February, registrations of new vehicles dropped less steeply, namely by 39% to 10,679. These figures stem from an analysis conducted by Česká Spořitelna (ČS), adding that future automobile sales would derive from the speed of the EU economic revival. In an optimistic scenario, the European market would drop 24% to 11.7m sold vehicles in 2020 and there could be a 25% growth in 2021. In the case of a deeper and longer decrease, sales would drop 29% in 2020. According to the analysis, the current crisis will also result in larger localisation of the supply chain, ongoing robotisation and digitisation, and transfer of vehicle selection to the internet.

 

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