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"The rating agency now expects that car sales in the world will fall by 20% in 2020, which is worse than the previous forecast of a decrease of 14%, as the economic impact of coronavirus is worsening," the report reads. In March, the forecast was sharply worsened with a 2.5% decline in sales.
The forecast for sales in Europe has worsened to a decrease of 30% for the current year from 21%, in the US, sales of cars are expected to fall by 25% instead of the previously expected 15%. At the same time, the indicator for China has been preserved - the agency still forecasts a decrease in the indicator in China by 10% this year, as demand begins to return to normal after a sharp drop in the first quarter.
In 2021, sales will rise by 11.5% due to the projected GDP growth of the G20 countries next year, the opinion of Moody's senior vice president Falk Frey is quoted in the message.
source: moodys.com
The forecast for sales in Europe has worsened to a decrease of 30% for the current year from 21%, in the US, sales of cars are expected to fall by 25% instead of the previously expected 15%. At the same time, the indicator for China has been preserved - the agency still forecasts a decrease in the indicator in China by 10% this year, as demand begins to return to normal after a sharp drop in the first quarter.
In 2021, sales will rise by 11.5% due to the projected GDP growth of the G20 countries next year, the opinion of Moody's senior vice president Falk Frey is quoted in the message.
source: moodys.com