EU car sales to drop 25% in 2020 due to virusChristian Fernsby ▼ | June 24, 2020
Due to the major economic crisis stemming from coronairus, the European car market will narrow 25% in 2020, the European Automobile Manufacturers’ Association (ACEA) said.
Automobile Eurozone factory
The association recalled that "following the first shockwaves of the crisis between mid-March and May, the EU market has contracted by 41.5% so far this year."
"This situation is expected to ease to a certain extent in the coming months as lockdown and containment measures are lifted throughout the region," it added.
The 2020 expectation represents the lowest car sales figures since 2013.
The auto industry employs 13.8 million Europeans, directly and indirectly, accounting for 6.1% of all jobs in the union. ■