COVID-19 pandemic exerted a significant influence on the automotive sector. In 2020, a sharp decrease in new vehicle sales in the European Union was recorded. When compared to 2019, the number of such vehicles is 3 million lower.
According to ACEA (Association des Constructeurs Européens d’Automobiles), Covid-19 pandemic brought many companies to stop production and reduce employment. The first coronavirus wave had the greatest impact on new vehicle sales in 2020. What is more, the financial standing of many people who were interested in buying a car deteriorated.