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World Automotive Outlook

  • ID: 4154142
  • Report
  • February 2021
  • Region: Global
  • 21 Pages
  • The Economist Intelligence Unit
(Forecast closing date: February 12th 2021)

The coronavirus (Covid-19) pandemic has dealt a grievous blow to the global automotive sector, which had already faltered in 2019. The Economist Intelligence Unit estimates that in 2020 new-car sales across the 60 countries covered by its forecasts fell by 16.5% year on year, as lockdowns and social distancing disrupted vehicle supply and demand. Sales of new commercial vehicles (CVs) and buses fell by 6.7%. The overall decline in new-vehicle sales was deeper even than the slump in 2008, during the global financial crisis.

Production and sales have now begun to recover in most markets, and we expect double-digit growth in total new-vehicle sales during 2021. However, we do not expect annual sales to regain their 2019 levels until 2022 (or 2023 if China is excluded from the total). The fallout from this rout will result in restructuring in the global automotive sector. China's dominance of the global vehicle market is likely to increase, given that it suffered a milder downturn than most other major markets.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles, Automotive, Production
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Note: Product cover images may vary from those shown
World Automotive Outlook

World automotive outlook: Overview

World automotive outlook: Key forecasts

World automotive outlook: Passenger cars
International comparison
Five-year forecast
Market share

World automotive outlook: Commercial and other vehicles
Five-year forecast
Market share

World automotive outlook: Production
Production trends
International trade
Major vehicle manufacturers
Investment strategies

World automotive outlook: Fuel sources
Fuel prices
Emissions and fuel efficiency
Electric vehicles
Note: Product cover images may vary from those shown