The top auto markets in Europe posted their biggest annual decline in decades, due to the ongoing restrictions imposed because of the coronavirus. Car sales have hit rock bottom as economic downturns and social restrictions have taken demand to an all-time low.
Registrations fell by a whopping 25 percent across the UK, France, Italy, Germany and Spain during the last year. These are 5 of the largest car-buying countries in Europe, and the steep decline has given marketers quite a lot to think about.
The resurgence of COVID-19 in Europe through a fresh new wave has meant that countries now have to impose new lockdown measures. These ongoing weaknesses in demand now pose a heavy risk to the manufacturing sector and the demand from masses.
“We are in a deep crisis,” Pierre-Louis Debar, head of statistics for French car-industry group CCFA, said during an interview. “It’s more extensive than anything we have seen in the past.”
The French car market has also gone down with a decrease of almost 30 percent in vehicles registered during 2020. The second half of 2020 did see a recovery though, after the country reported an almost 90 percent drop in vehicles registered during March, after the early onset of the pandemic.
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