New Cars Sales Sink in Europe in April

In April 2020, Europeans lost interest in buying new cars, the European Automobile Manufacturers’ Association (ACEA) stated in a message. The number of registered new cars in the EU countries fell by 76.3 percent.

In the first four months of the year, demand for new cars in the EU countries fell by 38.5 percent. The strongest drop was recorded in the three largest countries in terms of the automobile market: Italy (by 50.7 percent), Spain (48.9 percent) and France (48 percent). In Germany, the drop was 31 percent.

It is noted that in April in some countries of the block, demand for new cars fell to almost zero (270 thousand cars sold versus 1.1 million a year earlier), which was caused by the most severe restrictions.

In mid-April, the Chinese government announced that it would provide the population with subsidies of up to $ 1.4 thousand for the purchase of new cars to support the industry.

source: cnbc.com

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