According to the results published this morning, the automotive market declined by 7.4% for the month of February, i.e. before the real impact of the coronavirus crisis and mainly due to changes in regulations. French manufacturers have thus fallen more than their foreign competitors and are now waiting for the repercussions of the COVID-19 pandemic.Trade Volkswagen shares!
Regarding the figures published this morning, we can see that the Renault group, in particular with the brands Alpine, Dacia and Lada, achieved a result almost half the average. Its deliveries fell by 14.3%.
As for the PSA group with the brands Peugeot, Citroën, DS, Opel and Vauxhaull, it recorded a drop of 8.9%, i.e. slightly less losses than its competitor. These data were communicated by ACEA this morning of March 18, 2020.
As far as new car registrations in the European Union are concerned, the figure stands at 957,000 vehicles for the month of February. However, the main European car markets recorded losses with a drop of 10.8% for Germany, 8% for Italy, 6% for Spain and 2.7% for France.
Because of Brexit, ACEA is currently working on compiling statistics for the European Union outside the UK and reprocessing the 2019 figures in order to allow for year-on-year comparisons.
Thus, the overall decline of the automotive market in the first two months of 2020 compared to the same period in 2019 is 7.4%.
Among the causes of the decline in the automobile market, we note of course a drop in registrations with the desire to sell polluting vehicles at the end of 2019 before the entry into force of the European Union.the European CO2 ceilings are in force and have led to additional constraints for manufacturers, but also to avoid an increase in car taxation in several countries from 1 January.
However, ACEA also points in its report to a weakening of the global economic situation before the impact of the containment measures taken in Europe in the last few days and in order to contain the coronavirus epidemic. Indeed, European markets are now almost at a standstill with the closure of the main automotive production sites and for an as yet unknown duration. March is therefore forecast to see an even greater decline in this sector. Indeed, it should be remembered that the Chinese market, under identical circumstances, had fallen by more than 80% in February.
Following 6 consecutive years of growth, ACEA, which was expecting a decline of only 2% in new registrations in 2020, will therefore revise its forecasts.
It should also be noted that Volkswagen maintained its European leadership in February with a market share of 25.1% despite a 5.3% decline in business, thanks in particular to the success of its new SUV models and its Spanish subsidiary Seat.