European Car Market in May 2020 dropped down 50.8%, significantly improving from the halt in April. Indeed, the market reported a 50.8% decline with 754.386 sales, leading Year to Date figures to 4.71 million. Italy, France and Germany managed to recover, while Sweden, the Netherlands and Finland have worsened.
Medium term market direction
In recent years the market was recovering after the fall caused by the 2008-2009 financial crisis. In the last 6 years the sales increased considerably and their sales were near to the pre-crisis level.
However, as the Coronavirus started to spread all around the World, the market is sharply declining in recent months. Indeed, in order to slow down the spread of the virus, in March several European countries imposed restrictive measures, which included the shutdown of non-essential businesses and car dealerships.
As a result, the European car market dropped down 25.3% in Q1, with 3.11 million units sold.
In April, several countries held a strict national lockdown for the entire month, leading car registrations to plummet 75.6%.
In May, the market reported a 50.8% decline with 754.386 sales, leading Year to Date figures to 4.71 million.
Countries like Italy and France, which have imposed restriction measures earlier than their neighbouring countries, have faced a significant improvement from April’s freeze. Instead, the Netherlands, Finland, Sweden and other countries characterized by more “flexible” anti-covid19 restrictions in the first month of the crisis, have worsened.
Tables with sales figures
In the tables below we report sales by countries.