• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog to get rich

  • Email
  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

Record-breaking Decrease in New Passenger Vehicle Sale in Europe

April 19, 2021 Leave a Comment

Share this:

  • Tweet
  • Email

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.

Ways To Earn Money With your Vehicle

Record-breaking Decrease in New Passenger Vehicle Sale in Europe

According to ACEA (Association des ConstructeursEuropéensd’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.

In what European Union countries were the falls the highest?

According to the analyses presented by ACEA, the highest falls in new vehicle sales were recorded by the following countries:

  • Croatia (-42.8% when compared to 2019) — the recorded decrease in the number of cars sold is 27 thousand vehicles,
  • Bulgaria (-36.8% when compared to 2019) — the recorded decrease in the number of cars sold is 13 thousand vehicles,
  • Portugal (-35% when compared to 2019) — the recorded decrease in the number of cars sold is 78 thousand vehicles.

Unfortunately, the largest vehicle markets in Europe suggest the decrease in demand for new vehicles reaching several hundred thousand cars. The first places are taken by:

  • Spain (-32.3% when compared to 2019, 407 thousand cars fewer),
  • Italy (-27.9% when compared to 2019, 535 thousand cars fewer),
  • France (-25.5% when compared to 2019, 564 thousand cars fewer),
  • Germany (-19.1% when compared to 2019, 690 thousand cars fewer).

When did the breakthrough time come?

Based on data concerning the number of new passenger vehicles registered in EU countries in 2020 and 2019, it is easy to notice that the decrease in the sale of brand new vehicles is connected with coronavirus pandemic occurrence, primarily with its first wave.

In March 2020, the demand for new cars decreased by 55%. In April, it fell by another 21%. In May, the index returned to above 52%. September was the only month last year when higher sale of new vehicles when compared to the previous month was recorded. The number of registered vehicles of that type increased by 3.1% then.

Which manufacturers were most afflicted by the decrease?

In one of its reports, ACEA mentions the number of registered new passenger vehicles by manufacturers. It turns out that virtually all automotive companies recorded high decrease in the number of cars sold.

Which vehicle makes recorded the highest decrease in sale in 2020?

Vehicle make Registrations of new passenger vehicles in EU (+EFTA+UK) in 2020 Registrations of new passenger vehicles in EU (+EFTA+UK) in 2019 % change 2020/2019
OPEL 485,778 815,707 -40.4
FIAT 492,101 659,666 -25.4
VOLKSWAGEN 1,346,999 1,783,924 -24.5
PEUGEOT 741,498 964,993 -23.2
RENAULT 819,009 1,062,808 -22.9
AUDI 600,470 742,716 -19.2
BMW 674,654 831,066 -18.8
MERCEDES 738,236 892,511 -17.3
SKODA 643,019 762,491 -15.7
TOYOTA 648,275 742,497 -12.7

Effect of COVID-19 pandemic on the decrease in a new vehicle sale

The global coronavirus pandemic is surely one of the most important causes of the decreasing interest in new vehicles. However, this is not the only reason. An important factor contributing to such a situation is e.g. the increase in the new vehicle prices particularly if we consider the fact that it is not in proportion to the average pay. In other words, car prices grow more than the salaries of citizens in many European countries.

Vehicle sale and insurance

If we decide to buy a brand new vehicle, we must buy a third-party liability insurance in advance. The owner of a brand new vehicle must buy the mandatory policy on the vehicle registration day at the latest. This is crucial as it is impossible to collect the vehicle from the distributor without valid third-party liability insurance.

Consequently, it is worth looking for insurance even before you visit the dealer. The easiest way will be to use the car insurance calculator. Thanks to it, you will not only compare the vehicle policies, checking their prices and scope, but also buy them fast and easily online.

Source: insurance comparison site rankomat

LIKE THIS POST?
I agree to have my personal information transfered to MailChimp ( more information )
Join our community of 8000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
  • Email
The tool that changed the way I manage my personal finance - Personal Capital, The Best Free Personal Finance Tool

Want to start a WordPress blog now? The onecentatatime.com blog is hosted by Siteground Web Hosting. For only $3.95 a month, Siteground can help you set up and host your website/blog quickly and easily.

About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« Effects Of Inflation On Retirement Savings
The Five Common Medical Errors That Lead to Legal Claims »

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

I use and suggest Upstart, for your personal loan need

CreditKarma, a free tool to check your credit scorey

I use Coinbase, for my crypto investments

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter
101 Ways to Beat Procrastination

Popular Posts

Quick Cash - How to make $100 legally, in a day
Living well on less than $15,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Advertisements

Personal Stories

How I got a new HP computer replaced
Was COVID circulating in USA in fall of 2019?
How my credit score went up 800+
Why I didn’t invest in Bitcoins
How I controlled impulses to buy things
Why this blog is named One Cent at a Time

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2023 One Cent At A Time · Designed by Nuts and Bolts Media