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Video: Western European registrations fall 13.8 percent year-over-year in November
10 December 2020
Implications
The Western European passenger car market has recorded a 13.8%
y/y decline in November, to according to IHS Markit's latest
forecast.
Outlook
November's significant decline was largely the result of a
return to COVID-19 lockdown measures that were implemented during
the month in an effort to slow down the second wave of the
pandemic, with dealers being closed in some markets and overall
confidence again taking a hit.
The Western European passenger car market posted another decline in
November as most major markets renewed lockdowns of varying degrees
in order to cope with the second wave of the coronavirus disease
2019 (COVID-19) virus pandemic. According to IHS Markit's latest
forecast, the Western European market fell 13.8% year on year (y/y)
to 938,542 registrations. This left the year-to-date (YTD) figure
down by 26.3% y/y to 9,700,071 units. The seasonally adjusted
annual rate (SAAR; D11) now stands at 11.928 million units,
although the final trend cycle (D12) figure stands at an improved
12.208 million units.
The German passenger car market posted a 3.0%
y/y decline in registrations in November to 290,150 units. This
left the market at 2,606,284 units for the first 11 months of the
year, which was a decline of 21.6% in the YTD after the heavy
declines in the first half of the year as a result of the initial
impact of the COVID-19 virus pandemic.
The French passenger car market dropped by 27%
y/y to 126,048 registrations during November as stricter measures
were imposed to control the second wave of the pandemic. The latest
decline means that passenger car registrations have now fallen by
26.9% y/y to 1,463,795 units during the first 11 months of
2020.
In Italy car registrations fell by 8.3% y/y to
138,405 units. This means that registrations in the YTD are now
down by 29% y/y to 1,261,802 units.
Passenger car registrations in Spain recorded
another decline during November with a decline of 18.7% y/y to
75,708 units. The YTD figure now stands at 745,369 units, a decline
of 35.3% y/y.
UK passenger car registrations dropped by 27.4%
y/y to 113,781 during November due to the introduction of COVID-19
virus-related lockdown measures in England through most of the
month. The drop in November registrations, along with the steep
COVID-hit declines is now down 30.7% y/y in the YTD at 1,498,382
units.
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