European car sales show recovery
June 17, 2020 - European car sales showed the first signs of a recovery in May as showrooms reopened after a two-month shutdown. Car sales in Europe are forecast to decline by as much as a fifth in 2020, according to Bloomberg Intelligence.
In May 2020, the European passenger car market suffered another sharp drop, with new registrations falling by 52.3%, according to the European Automobile Manufacturers Association (ACEA).
While that’s the worst May since ACEA started tracking the data in 1990, however, it was an improvement over the 78% plunge in April.
From January to May 2020, demand for new passenger cars in the EU-27, the European Free Trade Association and the UK fell by more than 48% compared to the first five months of 2019.
So far this year, car registrations decreased by 54.2% in Spain, 50.4% in Italy and 48.5% in France. The contraction of the German market was slightly less severe, with registrations down 35.0% over the first five months of 2020.
The industry is hoping that consumers will turn to cars for the summer holidays instead of flying.
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