Global vehicles sales hit 10 year low in 2020

Global vehicle sales dropped by 13% in 2020 to 78.35 million units - the lowest since 2011.

The outbreak of the Covid-19 pandemic has affected vehicles sales the world over. According to one report, global vehicle sales dropped by 13% in 2020 to 78.35 million units - the lowest since 2011.

India ranked fifth in terms of overall vehicles sales. Total sales dropped by 18% to 27,69,538 units in 2020.

Despite the pandemic, China recorded the highest sales, albeit with a 2% drop. China accounted for 32% of the global vehicles sales.

The US market was also affected by the pandemic as sales shrunk by 15%. Japan remained in third place with 45,41,114 units - a drop of 11%. Germany recorded a drop of 19% in overall sales.

Surprisingly, South Korea registered a 5% increase in total sales in 2020.

Source - Autopunditz