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The month of May underlined the volatility expected in global
demand as markets wrestled with the fallout from the COVID-19 virus
pandemic and the resultant regional lockdown measures. The
Seasonally Adjusted Annualised Rate (SAAR) has fallen to just 49
million units in April 2020, from 91 million units in December
2019.
Click here to access the Global Auto Demand Tracker for
free.
The US market has contracted to levels not seen since the
2007-2009 recession. Demand fell over 43% year on year (y/y) in
April and has dropped 23.7% for the year to date as lockdown
measures in many states brought vehicle sales to a standstill.
Europe has been even harder hit, with a 53% month-on-month
(m/m) decline compared to March, which was itself already hit hard
by lockdown measures.
Austria is the only country in West Europe showing early signs
of recovery in April.
While Scandinavian countries appear to have been least
affected, the United Kingdom is the hardest hit in terms of m/m
decline.
Of the largest five auto markets, Germany has performed the
'least worst'.
Although the pace of decline does not seem to be letting up
yet, there are some indications of a tenuous recovery. China has
enjoyed a resurgence in demand, recording an increase of over 76%
compared to March.
The Global Auto Demand Tracker is updated daily with sales
and/or registrations by country by make for the most recent
calendar month. Where an actual date is not yet publicly available,
the IHS Markit Sales Operations prediction for the month is
provided.
The Global Auto Demand Tracker allows automakers and their
national sales arms to see which markets are sliding into crisis,
which are emerging, and at the pace of the recovery. It also shows
which brands are being hit the hardest in terms of volume and
market share.
To support our clients, IHS Markit is making the Global Auto
Demand Tracker available to all clients with access to Connect, our
client portal, for the months of May and June. If you are not a
subscriber to Connect, fill out the registration form
here and request a free trial to Connect.
