In widely reported remarks, Nissan COO Ashwani Gupta has reiterated the importance of UK-EU free trade to the future of its Sunderland manufacturing plant. The uncertainties connected with the Nissan Sunderland plant, in turn, serve as a reminder of the still-present Brexit risks.
For the three national markets of France, Italy and Spain, combined new light vehicle sales fell by 55 per cent on last year to 268,000 in May, which compares with a 75 per cent drop in March and a 93 per cent decline in April. This represents a slightly better scenario than had been anticipated, as Calum MacRae, automotive analyst at GlobalData, explains: “After the seized up and locked down markets of March and April, this is a welcome sign of life in markets that were the first in Europe to be engulfed by the COVID-19 outbreak.
Light commercial vehicles (LCVs) including vans are an often overlooked, but important, component of the European light vehicle market, particularly in the current coronavirus crisis, says GlobalData. Calum MacRae, automotive analyst at the company, says: “As online delivery becomes more important to our everyday lives and as we shelter indoors from the coronavirus, the importance of the LCV typified by light vans such as the Ford Transit is self-evident.”
France recently announced plans to inject more than €8bn into its automotive sector, a measure that Calum MacRae, automotive analyst at GlobalData, believes should be considered across Western Europe. The analyst has forecast that the region will “bear the brunt of a global industry that faces a near 20 per cent fall in volume in 2020 due to the impact of COVID-19.” While it forecasts global industry to lose “nearly 16 million sales in 2020 compared with 2019, West Europe alone will account for more than a quarter of the decline.”
Following the news that car dealerships in England can re-open from 1 June, David Leggett, automotive analyst at GlobalData urged caution that car demand will continue to be “well below normal.” The analyst currently forecasts that the UK new car market will be 30 per cent down, year on year.
Even as automotive manufacturers tentatively restart production lines after the COVID-19 crisis disruptions, the global automotive industry faces a hit to the market that will be greater than in the 2007/8 financial crisis, says GlobalData, a leading data and analytics company.
Volkswagen’s (VW) main Wolfsburg plant in Germany has restarted vehicle production after a period of shutdown due to the impact of the COVID-19 crisis. David Leggett, automotive analyst at GlobalData, said the move is a “welcome sign of a corner being turned in Germany,” but that the low level of production is indicative of the difficulties facing the sector in emerging from shutdowns.
The shutdowns and deteriorating demand in the automotive sector have caused GlobalData to revise its North American and European light vehicle (LV) production forecasts for 2020 and beyond. This is a stark illustration of how serious the COVID-19 crisis, which has caused sales to whither and shuttered manufacturing plants, is becoming for the automotive industry, says data and analytics company, GlobalData.
China’s vehicle market was down 43 per cent in March, at 1.43 million units. David Leggett, automotive editor at GlobalData, said that April “will be key to seeing how the recovery to demand is shaping up and also how robust it is.”
Following the news that the European light vehicle market declined by an unprecedented 47 per cent in March, Calum MacRae, automotive analyst at data and analytics company GlobalData, offers his view: “The picture for Europe closely mirrors that of the UK with sales finishing 47 per cent down in March compared with last year’s totals.
As the Chinese Government announces it will maintain subsidies for electric vehicles and plug-in hybrids, an indication that it will support the industry in recovery, David Leggett, automotive analyst at GlobalData, says “all eyes will be on China, being the first country hit by the crisis and the first to attempt to navigate a way out.”
Goodyear Tire & Rubber Co.’s (Goodyear) sentiments declined in the fourth quarter (Q4) of 2019 (Quarter ending December 31, 2019) compared to Q3 2019, due to the automotive industry’s challenging environment and distributor concerns, says data and analytics company GlobalData.
After a period of sweeping announcements by European automakers that they are halting production at European plants for several weeks, Calum MacRae, automotive analyst at GlobalData, has quantified potential effects on industry forecasting.
On the first press day of the cancelled Geneva Motor Show, the organisers are promoting a ‘virtual press day’ made up of livestreamed carmaker presentations instead of what would have happened at the physical show venue today.
One in five motor insurance customers were using a dash cam in 2019, according to leading data and analytics company GlobalData’s 2019 UK Consumer Insurance Survey, and Insurtech Inzura’s white-labeled dash cam offering has the potential to increase uptake considerably – reducing premiums for policyholders.