The European Automobile Manufacturers’ Association (ACEA) projects that car sales in the EU will increase by 10pc in 2021 compared to decline of 23.7pc in 2020 due to the impact of the COVID-19 pandemic.
The first quarter of this year is still expected to see a slump in sales, but the second half is projected to see growth as more vaccines are administered. The ACEA is also betting on electric vehicles to boost sales in 2021. The market share of EVs in the EU grew to 10.5pc last year, up by 3pc from 2019, ACEA noted.
ACEA recommends that Europe focuses on realistic strategy to avail supply of raw material to build vehicles. The Association’s president, Oliver Zipse, noted that it is important for the EU car manufacturers to work hand in hand with the policy makers to strengthen EU’s auto industry and build its presence globally.