Photo: ACEA
No one expected the current turn of events just eight months ago, and the automotive industry was certainly caught unprepared by the medical (and economic) crisis. That is obvious when judging even the regional performance of the European Union in terms of passenger car registrations, a good health indicator of this massive economic sector. After the initial plunge, things are starting to look more positive, but the comeback from the abyss looks long and treacherous.
According to ACEA, the European Automobile Manufacturers Association, during the first eight months of the year data collected across the European Union (with its new composition of 27 states, excluding the UK) shows a total contraction of 32%.
Demand for new passenger cars over the January to August period has led to a total registration quota of 6,123,852 units, which negatively compares to the same period of 2019 by almost 2.9 million vehicles. Not all lost sales can be attributed to the ongoing crisis, though, according to the statistics.
For example, January and February 2020 were already on the losing side (by 7.5 and 7.4%, respectively) before the massive plunges of 55.1%, 76.3%, and 52.3% of the three months that mostly corresponded to the general lockdown faced by many countries on the Old Continent (March, April, and May).
Things started to recover slowly beginning with June (-22.3%) and July (-5.7%), but the return to form was impaired by the August evolution (-18.9%). According to ACEA, July even saw certain countries return to positive figures, like seven members of the EU and other European countries not part of the block, such as the UK (+11.3%) and Norway (+ 6.5%).
On the other hand, the classic vacation month of August again signaled strong losses, with a single country posting a positive result (Cyprus, with a surge of 14.1%) and major markets registering worrying results – Germany was down 20% and France followed closely, with -19.8%.
Overall, after the first eight months, Spain was the worst hit, with a total loss of -40.6%, followed by the declines registered in Italy (-38.9%), France (-32.0%) and Germany (-28.8%). You can check out the attached PDF to see the highly detailed situation.
Demand for new passenger cars over the January to August period has led to a total registration quota of 6,123,852 units, which negatively compares to the same period of 2019 by almost 2.9 million vehicles. Not all lost sales can be attributed to the ongoing crisis, though, according to the statistics.
For example, January and February 2020 were already on the losing side (by 7.5 and 7.4%, respectively) before the massive plunges of 55.1%, 76.3%, and 52.3% of the three months that mostly corresponded to the general lockdown faced by many countries on the Old Continent (March, April, and May).
Things started to recover slowly beginning with June (-22.3%) and July (-5.7%), but the return to form was impaired by the August evolution (-18.9%). According to ACEA, July even saw certain countries return to positive figures, like seven members of the EU and other European countries not part of the block, such as the UK (+11.3%) and Norway (+ 6.5%).
On the other hand, the classic vacation month of August again signaled strong losses, with a single country posting a positive result (Cyprus, with a surge of 14.1%) and major markets registering worrying results – Germany was down 20% and France followed closely, with -19.8%.
Overall, after the first eight months, Spain was the worst hit, with a total loss of -40.6%, followed by the declines registered in Italy (-38.9%), France (-32.0%) and Germany (-28.8%). You can check out the attached PDF to see the highly detailed situation.
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