Another month has passed with the coronavirus still affecting car sales, a new big club is daring to predict how dramatic this year’s final score will be.
The British Global Data thinks that in 2020, 73.6 million cars will eventually be sold. Global sales would shrink by 17.2 percent compared to 2019. According to Global Data analysts, COVID-19 has a greater impact on the car industry than the last economic crisis. As it stands, the second quarter in particular has a major impact on the world market. Then the world largely locked due to the pandemic.
However, based on Chinese and Korean figures, Global Data is hopeful that the car market will eventually bottom out. These countries entered lockdown first and the car market is now also recovering first. In May and June, very positive figures were even achieved there. In China, sales increased by 8 percent in May, by 10 percent in South Korea. Global Data, however, still takes into account hit in America, since the virus has been there for a long time.