[volkman10]

Global Vehicle Sales drop to the lowest since 2011 in 2020.



- The vehicle sales dropped 13% in 2020 to 78.35 million units! The volumes included passenger cars, pickups, light commercial vehicles, and in some minor markets the heavy commercial vehicles too.

- China retained its position as the world's largest car market and surprisingly the vehicle sales fell by a meager -2%. The sales were boosted by government-driven incentives and China ended up accounting 32% of the global sales volumes!

- Vehicles sales in US was impacted heavily and the volumes dropped -15% and recorded sales of 14.55 million units which is the lowest since 2012

-Japan ranks 11th in terms of population but was the third-largest car market in the world in terms of sales volumes

-Germany was the fourth largest car market for 2020 and the volumes in the country fell -19%. Germany had regained its fourth spot in 2019 when it pipped India from the slot.

-India - The world's second-most populous country ranked fifth and the sales degrew -18%

-South Korea was the only country in the Top 10 markets to register a growth in vehicle sales

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[Aditya]

Global vehicles sales hit 10 year low in 2020 - Post moved to a new thread.

[V.Narayan]

As the industry transitions to electric vehicles, the technology goes through some step changes and customers postpone buying decisions as they wait for mature EVs with the right range and safety, it is possible that the auto industry will witness some more naders of production volumes in the decade of the 2020s.

In the worst case the industry could be burdened by both slowing revenues and profits on one hand and pressure to invest in new technology, designs and production lines on the other.