2020 Europe Automotive Sales Research
In 2020, the European automotive industry faced unprecedented challenges due to the COVID-19 pandemic, which significantly impacted sales, production, and supply chains. The pandemic led to widespread production halts, especially in the first half of the year. Many factories shut down for extended periods, and demand dropped significantly as consumers postponed purchases and stayed home during lockdowns. The industry faced one of its most significant sales slumps in decades. Despite the overall downturn in the market, EV sales in Europe surged. Several countries provided financial incentives to boost EV sales as a part of post-pandemic economic recovery plans. The push to meet the EU's stringent CO2 emissions standards for 2020/2021 also drove manufacturers to promote EVs aggressively. Diesel sales continued their downward trajectory, with consumers increasingly turning to petrol, hybrid, and electric options. The ongoing narrative of environmental impact, potential future bans, and tighter regulations weighed heavily on diesel. The pandemic highlighted vulnerabilities in the automotive supply chain. Disruptions, especially from Asia in the early stages of the pandemic, led to parts shortages, prompting discussions about reshoring or diversifying supply chain sources. As European countries unveiled recovery plans post-lockdown, there was a strong emphasis on "green recovery." Investment in EV infrastructure, incentives for EV purchases, and plans to phase out combustion-engine vehicles in the long-term were all reinforced.