2020 sees Europe car sales drop at record pace

Europe’s car industry has undergone the biggest ever drop sales in 2020, as the COVID-19 pandemic dealt a severe blow to the sector.

Car sales across the European Union slumped by 23.7 per cent in 2020, according to new data released by the European Automobile Manufacturers Association (ACEA).

The worst slump on record, just 9.9 million new vehicles were registered in 2020, down from 13 million in 2019, as lockdown restrictions hampered demand.

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European new car sales drop by 3.7% y/y in December – ACEA

ACEA said 2020 saw the biggest yearly drop in car demand since records began, with new car registrations falling by 24.3% compared to 2019.
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The ACEA said that every EU country saw double-digit sales fall in 2020, with Spain posting the sharpest drop at -32.3 per cent, followed closely by Italy at -27.9 per cent. The two nations arguably had among the harshest lockdown measures in place periodically throughout 2020.

The worst slump came in March and April, predictably, when the coronavirus outbreak hit Europe’s economy. But sales have remained weak since.

In December, new registrations fell by 3.3 per cent, the third monthly decline in a row, as the second wave of Covid-19 forced fresh lockdown restrictions.

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