EUROPEAN CAR SALES REGISTER WORST DROP IN HISTORY

European car sales have hit rock bottom in April 2020 as dealerships were shuttered because of the COVID-19 pandemic and buyers hid in their houses, causing total sales to plummet 76%, the worst record ever, the  Association des Constructeurs Européens d'Automobiles (ACEA) admitted on Monday, May 19, 2020.

Carmakers across the continent sold just 270,682 vehicles last month, compared with 1.14 million a year earlier, the ’’strongest monthly drop in car demand since records began,” ACEA told the Associated Press (AP).

Southern Europe was the hardest hit with new car registrations down 97.6% in Italy and 96.5% in Spain -- as both countries struggled with some of the highest levels of coronavirus infection in Europe. France saw an 89% contraction while Germany suffered a 61% drop. European car sales for the first four months of the year were down 39%.

“The crisis was striking both mass-market and luxury carmakers indiscriminately. The Volkswagen group maintained the largest market share, expanded by 30% despite a 73% drop in sales. French rivals PSA Group and Renault saw declines hovering around 80% while Fiat Chrysler -- which is seeking a 6.3-billion-euro Italian government-backed loan to relaunch -- dropped by 88%. German luxury carmakers BMW and Daimler saw sales sink 65% and 79% respectively,” AP said. #coronavirusimpact #COVID19