Global Passenger Car Sales to Plunge by $440B in 2020, Entire Market to Drop by 10% in 2021

Global Passenger Car Sales to Plunge by $440B in 2020, Entire Market to Drop by 10% in 2021

29.12.2020: The COVID-19 pandemic hit the automotive industry hard, causing supply chain disruptions, factory closures, and huge sales and revenue drops.

The COVID-19 pandemic hit the automotive industry hard, causing supply chain disruptions, factory closures, and huge sales and revenue drops.





According to data presented by StockApps.com, global passenger car sales is expected to plunge by $440bn in 2020 due to the coronavirus outbreak. The downsizing trend is set to continue next year, with revenues falling by 10% YoY in 2021.




Revenues to Continue Falling in the Next Two Years


Even before the pandemic, the car industry was already coping with a downshift in global demand. In 2016, global car sales revenue, including passenger cars, sports cars, SUVs, and MPVs, hit $2.26trn, revealed Statista data. In the next twelve months, this figure slightly increased to $2.27trn.


Statistics show that in 2019, global passenger car sales revenues amounted to $2.29trn. Small SUVs sales, as the largest revenue stream, generated almost 30% of that value or $647bn. Large SUVs and large cars segments followed with $362bn and $275bn in revenue, respectively.


However, the COVID-19 pandemic caused a huge hit, with total car sales revenues falling by almost 20% year-over-year to $1.85trn in 2020. Statista data revealed that revenues in the large cars segment are expected to drop by 25% YoY to $233bn.


Large SUV sales are set to witness a 24% cut this year, with revenues falling to $275bn in 2020. Small SUVs follow with a 20% drop and $525bn in revenue.



Analyzed by carmakers, Toyota represented the market leader with a 10.6% market share in 2020. Volkswagen ranked second with a 7.4% market share. Nissan, Ford, and Hyundai follow, with a 6.6%, 6.2%, and 5.6% share, respectively.



Statistics show the downsizing trend is set to continue in 2021, with global passenger car sales revenues falling to $1.65trn. In 2022, this figure is expected to decrease by another 6% to $1.55trn.




Three Largest Markets Lost $231.5B in Revenue Amid COVID-19 Crisis


Statista data also revealed that all of the leading car markets are expected to witness a two-digit revenue drop this year.


As the largest market globally, the car sales revenue in the United States is forecast to fall by almost 18% YoY to $507bn in 2020. This figure is expected to plunge to $385bn in the next two years, nearly 40% less than in 2019.


China ranked as the second-largest market globally with $452bn in revenue in 2020, an 18% fall year-over-year. By 2022, total car sales revenues in China are set to drop to $405bn.


As the third-largest market, Japan witnessed an almost 19% YoY drop, with passenger car sales revenues falling to $92bn in 2020. Germany follows with $86.5bn in revenue, 17% less than in 2019.



The Statista data show the three leading markets lost $231.5bn in car sales revenues in 2020 due to the COVID-19 crisis.   





 Adam Grunwerg, Psychic Ventures Ltd - logo StockApps

Permanent-URL: http://www.automobilsport.com/global-passenger-car-sales-plunge-2020-market-drop-2021---217709.html

29.12.2020 / MaP

More News

A transportation, infrastructure and climate priority
28.12.2020
President-elect Joe Biden has pledged to build more clean transportation, more renewable energy and more resilient electricity infrastructure — part of a sweeping $2 trillion plan to “Build Back Better.”These are the right proposals for America, at the rig more >>
Appointment of Louis-Marie Chevalier, Director of PSA Retail France
28.12.2020
From January 1, 2021, Louis-Marie Chevalier is appointed Director of PSA Retail France. He will report to Anne Abboud, Senior Vice President of PSA Retail. He succeeded Eric Basset who leaves the group for personal reason.A graduate of the ESCP and the IEP of Aix-e more >>
MITSUBISHI MOTORS Announces Production, Sales and Export Figures for November 2020
27.12.2020
November 2020     Fiscal Year 2020 (20/04-20/11)     Calendar Year 2020 (20/01-20/11) Volume(unit)     YoY(%)     Volume(unit)     YoY(%)     Volume more >>
British engine production falls -8.2% in November
24.12.2020
UK ENGINE MANUFACTURING    189,883 UK engines built in November as output declines by -8.2%.    Production for domestic and overseas markets falls -7.8% and -8.4% respectively.    Engine output has declined in every month of 2020, with year-to-date output down -28.2%. more >>
UK car manufacturing declines -1.4% in November as sector urges Brexit negotiators to ‘seal the deal’
24.12.2020
UK CAR MANUFACTURING (data for November)    UK car manufacturing falls -1.4% in November with 106,243 vehicles leaving production lines.    Output for domestic market declines -10.4% with exports flat, up just 0.3% to 90,597 units.    Year-to-date production now down -31.0% with 380,809 fe more >>
UK commercial vehicle manufacturing down -1.9% in November as sector calls for swift resolution to UK-EU trade talks
24.12.2020
UK COMMERCIAL VEHICLE MANUFACTURING    UK commercial vehicle production dips -1.9% in November with 8,605 units built.    Overall decrease driven by -8.8% exports decline, while production for UK rises 10.1% as sector works to meet ecommerce-driven demand.    Almost 60,000 commercial vehicles made sin more >>
EU Commission approves the merger of Fiat Chrysler Automobiles N.V. and Peugeot S.A., subject to conditions
21.12.2020
The European Commission has approved, under the EU Merger Regulation, the proposed merger between the automotive companies Fiat Chrysler Automobiles N.V. (‘FCA') and Peugeot S.A. (‘PSA'). The approval is conditional on full compliance with a commitments package offered by the companies. more >>
Hagerty Investigates The Highs And Lows Of Classic Car Auctions In 2020 -full report here
21.12.2020
    2020 marked the year when auction houses needed digital to survive    Despite widespread issues from government social restrictions, some physical auctions returned strong sales results    Star sale of the year was Gooding & Company’s Passion of a Lifetime event at Hampton Court Palace&n more >>
Kia Motors America announces executive management team appointments
18.12.2020
Promotions Support Kia’s U.S. Growth and Brand Enhancement Strategy    Bill Peffer promoted to chief operating officer and executive vice president    Russell Wager promoted to vice president of marketing more >>
Porsche’s Marketing Communications realigns its global agency model
18.12.2020
Increased brand focus and greater bundling   As part of a pitch process lasting several months, the Marketing Communications department of Porsche AG has realigned its cooperation with the existing agencies. The focus of the previous “Creative Alli more >>
The Special Meeting and the Extraordinary General Meeting of Peugeot S.A. will be held on January 4, 2021 behind closed doors
14.12.2020
In the light of the Covid-19 epidemic and pursuant to the provisions of regulation n°2020-1497 of December 2, 2020 (which extends and amends regulation n°2020-321 of March 25, 2020), the Managing Board of Peugeot S.A. has decided that the Extraordinary General Meeting and the Special Meeting of shareholders holding double voting rights of January 4, 2020 will be held at the head o more >>
Tesla’s Free Cash Flow Up 276% in Q3 2020 Compared to Q3 2019 - $1.395B
09.12.2020
Despite the uncertainty caused by COVID-19 Tesla posted impressive numbers regarding their free cash flow for 2020. According to data presented by Stock Apps, Tesla’s Free Cash Flow increased by 276% compared to the same period in 2019. Tesla’s Q3 free cash flow also experienced an almost $1 billion increase from Q2 2020.Free Cash Flow up by 276%, Cap more >>
Future prospects secured for the Hambach plant: Mercedes-Benz AG sells passenger-car plant in Hambach, France to Ineos
08.12.2020
    Secures employment with future-proof solutions at Hambach plant    Mercedes-Benz AG sells plant to the British company INEOS Automotive    Production of electric two-seat smart EQ models by INEOS Automotive will continue more >>
Jens Brücker becomes new head of Porsche main factory
07.12.2020
Traditional plant in Zuffenhausen under new leadership   Change at the helm of Porsche’s main factory: On 18 November, Jens Brücker was appointed the new vice president of the traditional plant at the headquarters in Zuffenhausen (Germany). Brücker su more >>
American Honda Reports November Sales Results
02.12.2020
  American Honda         Total102,614 -23.4%    Cars39,830 -26.9%    Trucks62,784 -21%     more >>
Mercedes-Benz Bank offers insurance especially for electric vans
01.12.2020
  Mercedes-Benz Bank is boosting the attractiveness of the transition to sustainable mobility with eVan insurance.    The coverage has been adapted for electric vehicles so that the charging cable, wallbox, and battery are also covered, among other items.    A 15 percent discount on the insurance premium is granted. more >>
Kia Motors announces November global sales
01.12.2020
    November global sales at 256,019 units, up 2% y/y    Korea sales increased 3.9% to 50,523 units    Sales outside of Korea climbed 1.6% to 205,496 units    Kia expects strong sales momentum to continue with expanded SUV line-up more >>
British engine production declines by a fifth in October
26.11.2020
UK ENGINE MANUFACTURING    197,374 UK engines built in October as output declines by -20.1%.    Production for domestic and overseas markets falls -25.2% and -16.4% respectively.    Year-to-date output remains down -30.1% as sector faces triple whammy of coronavirus, Brexit and 2030 end of sale more >>
October UK car production down -18.2% as sector awaits critical Brexit deal
26.11.2020
UK CAR MANUFACTURING (data for October)    UK car production falls -18.2% in October with 110,179 units leaving factory gates.    Subdued demand from EU and US markets drives -19.1% exports decline, as output for UK buyers also falls.    Year-to-date output lags by -33.8% with 379,30 more >>
UK commercial vehicle production down -25.6% in October
26.11.2020
UK COMMERCIAL VEHICLE MANUFACTURING    UK commercial vehicle production falls by -25.6% as 6,761 units leave factory gates in October.    Production both for overseas and domestic markets in double digit decline as dual impact of Covid-19 and risk of ‘no deal’ Brexit bring down operator confidence. more >>
The notices convening the General Meetings of Peugeot S.A. shareholders on January 4, 2021 have been filed in the official bulletin of legal notices
23.11.2020
The Managing Board of Peugeot S.A. has decided to convene an Extraordinary General Meeting of shareholders on Monday January 4, 2021 at 11 a.m. in order to approve the merger transaction with Fiat Chrysler Automobiles N.V. (“FCA”).A special meeting o more >>
Approval of the prospectus relating to the listing of Stellantis shares
20.11.2020
  Groupe PSA and Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) announced today that the Netherlands authority for the financial markets (Autoriteit Financiële Markten) has approved their prospectus relating to the admission to listing and trading in more >>
Stephan Winkelmann named new President and CEO of Automobili Lamborghini
18.11.2020
    Stephan Winkelmann returns to Automobili Lamborghini    He will also remain President of Bugatti    Winkelmann succeeds Stefano Domenicali more >>
Nissan contributes - € 30 million for third quarter 2020 to Renault’s earnings
12.11.2020
Nissan released today its results for the second quarter of fiscal year 2020/2021 (April 1st, 2020 to March 31th, 2021).Nissan’s results, published in Japanese accounting standards, for the second quarter of fiscal year 2020/2021 (July 1st to September 30t more >>
UK auto counts £735 Million cost of Brexit preparation with final plea for zero-tariff trade deal as negotiations enter endgame
11.11.2020
    UK auto industry issues last plea for UK-EU negotiators to agree a zero-tariff trade deal as talks enter the final stretch.    New SMMT survey reveals at least £735 million cost to industry of preparing for Brexit so far, with more than £235 million spent in 2020 alone.    Sector doing more >>
UK used car market bounces back 4.4% in third quarter as more than 2 million change hands
11.11.2020
    UK used car transactions grow 4.4% in Q3 as showrooms re-open, with 2,168,599 vehicles changing hands.    Growth recorded in each month of the quarter, with September plate-change driving highest increase of 6.3%.    Demand lifts across all fuel types, with biggest percentage growth enjoyed by electric ve more >>
Harris Williams Advises Highline Aftermarket Holdings, LLC on its Sale to Pritzker Private Capital
10.11.2020
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Highline Aftermarket Holdings, LLC (Highline), a portfolio company of The Sterling Group (Sterling), on its sale to Pritzker Private Capital (PPC). more >>
Dutch funding set to boost UNCTAD’s work on e-commerce and the digital economy
05.11.2020
African e-commerce ambitions lifted by Dutch funding   Generous grant from the Netherlands will boost Africa-wide ambitions to benefit from e-commerce and provides concrete support to its least developed countries.Digita more >>
BMW Group confirms outlook for 2020 – significantly improved performance in third quarter
04.11.2020
Zipse: “Third-quarter performance underlines BMW Group’s operational strength” - Peter: “We are in an intense cost competition” - Profit before tax in Q3 rises to approximately € 2.5 billion - Return on sales of 9.4% in Q3 - Free cash flow in Q3 exceeds € 3 billion - EBIT marg more >>
American Honda Reports October Sales Results
03.11.2020
      Sales of Acura cars increased 9.1% in October, fueled primarily by robust sales of the TLX (up 8.1%) as the all-new 2021 model completed its first full month on the market    Honda Passport sa more >>
NIO Inc. Provides October 2020 Delivery Update
03.11.2020
 Company Achieved New Record-High Monthly Deliveries     •    NIO delivered 5,055 vehicles in October 2020, increasing by 100.1% year-over-year •    NIO delivered 31, more >>
Kia Motors announces October global sales
02.11.2020
    October global sales at 265,714 units, up 6.1% y/y    Korea sales increased 1.8% to 48,009 units    Sales outside of Korea climbed 7% to 217,705 units    Kia expects strong sales momentum t more >>
Goodyear Reports Third Quarter 2020 Results
31.10.2020
– Volume improved throughout the third quarter; total unit volume down 9% versus 2019– Third quarter working capital significantly better than expected; source of cash for the quarter– Cash and liquidity position maintained; $4.2 billion available at quarter end– Strong net cost savings in the third quarter, including ben more >>
Skoda Auto achieves operating profit of 469 million euros in first three quarters of 2020
30.10.2020
    ŠKODA AUTO delivers 721,900 vehicles to customers worldwide from January to September despite the coronavirus pandemic    ŠKODA AUTO Group* sales revenue exceeds 12 billion euros in the first three quarters, with a return on sales of 3.9%    Clearly positive operating profit of 469 million more >>
Ducati records the best third quarter ever despite the complex global situation
30.10.2020
The third quarter closed with 14,694 total motorcycles delivered worldwide       A total of 4,468 motorcycles were delivered in September, of which the Panigale, Ducati Scrambler and Mul more >>
Harris Williams Advises Parts Authority on its Sale of a Majority Interest to Kohlberg & Company, LLC
30.10.2020
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Parts Authority, a portfolio company of The Jordan Company (TJC), on its sale to Kohlberg & Company, LLC (Kohlberg).  Parts Authority is a more >>
Volkswagen brand recovers from Covid-19 slump in third quarter and confirms outlook
30.10.2020
Third-quarter deliveries almost on a level with previous year; year-to-date decline of 18.6 percent  Sales revenue of EUR 47.2 billion in the first nine months; rate of year-on-year decline has narrowed to –27.9 percent after three quarters  Return to profitable territory in third quarter, nine-month operating result before special ite more >>
Audi Group achieves breakeven thanks to strong third quarter - report
30.10.2020
   Strong third quarter: deliveries and revenue up year-on-year, operating profit clearly positive         First nine months: 1.2 million Audi brand vehicles delivered, revenue of €33.3 more >>
Porsche records operating result of two billion euros
30.10.2020
Success in uncertain times: 10.4 percent return on sales   In the first three quarters of 2020, Porsche generated an operating result of 2.0 billion euros despite the worldwide coronavirus pandemic. With revenue of 19.4 billion euros, more >>
2001-2021 copyright automobilsport.com