EU passenger car market contracts 23.7% in 2020

2020 posts biggest yearly drop in car demand, with new car registrations falling by 3M compared to 2019ANKARA – The EU passenger car market narrowed by 23.7% to 9.9 million units in 2020 due to the direct impact of the COVID-19 pandemic, a trade group recently revealed.

2020 posted highest yearly drop in car demand since record-keeping, with new car registrations falling by 3 million units compared to 2019, the European Automobile Manufacturers’ Association (ACEA) said.

All EU markets saw double-digit declines in the year, the ACEA noted. “Among the region’s biggest car markets, Spain posted the sharpest drop by -32.3%), followed closely by Italy’s -27.9% and France’s -25.5%, while full-year losses were significant but less pronounced in Germany by -19.1%.”