Global car sales could decline by 14pc to 77 million units in 2020 compared with last year, according to automotive market intelligence provider LMC Automotive. In 2021, however, LMC predicts a 10pc rise to 85 million units compared with this year.
In Europe alone, LMC expects a 22pc drop in sales to 16.2 million units in 2020 from last year as new COVID-19 containment measures kick in, but car sales in the region are expected to increase by 15pc next year.
In North America, car sales will drop by 16pc to 17 million units while China could see a 6pc decline to 24.1 million units this year from 2019. That said, in 2021 North America will witness a 9pc growth in car sales and China’s car sales may increase by 7pc next year, LMC projected in a statement. Global car output is expected to fall by 16pc to 74.6 million units but they could increase by 16pc next year.