Out of 575 survey participants in the U.S. who delayed purchasing a new vehicle during COVID-19 restrictions in 2020, nearly half of the participants claimed that they would feel comfortable buying a vehicle from a dealership within ** days of the restrictions being lifted. Only ***** percent of respondents said that they would wait at least six months after restrictions have been lifted. Restrictions in the U.S. Like many countries worldwide, measures to slow down and control the spread of COVID-19 on a national scale were implemented across several U.S. states. Such measures included the temporary closure of schools, bars, restaurants, and movie theaters, along with the cancellation or postponement of several large public events. While online activity in the U.S. has steadily increased during the pandemic, e-tailers in the automotive industry are predicting a decrease in sales: projected auto sales growth for 2020 in the U.S. are anticipated to be **** percent below the level *** year earlier. Post-lockdown behavior Respondents in this survey were also asked whether they would feel comfortable performing other activities after COVID-19 restrictions were lifted. A total of ** percent of respondents stated that they were comfortable buying a vehicle from a dealership within a month of restrictions being lifted, ** percent claimed that they would feel comfortable returning to work, ** percent would dine in at a restaurant, and only ** percent would travel via airplane.

In 2020, following the corona virus pandemic, the new forecasts for passenger car sales in Saudi Arabia was approximately *** thousand units. The forecasts of passenger car sales for that year previous to the pandemic was about *** thousand units.

Worldwide car sales grew to around ** million automobiles in 2024, up from around **** million units in 2023. Throughout 2020 and 2021, the sector experienced a downward trend on the back of a slowing global economy, while COVID-19 and the Russian war on Ukraine contributed to shortages in the automotive semiconductor industry and further supply chain disruptions in 2022. Despite these challenges, 2023 and 2024 sales surpassed pre-pandemic levels and are forecast to keep rising through 2025. Covid-19 hits car demand It had been estimated pre-pandemic that international car sales were on track to reach ** million. While 2023 sales are still far away from that goal, this was the first year were car sales exceeded pre-pandemic values. The automotive market faced various challenges in 2023, including supply shortages, automotive layoffs, and strikes in North America. However, despite these hurdles, the North American market was among the fastest-growing regions in 2024, along with Eastern Europe and Asia, as auto sales in these regions increased year-on-year. Chinese market recovers After years of double-digit growth, China's economy began to lose steam in 2022, and recovery has been slow through 2023. China was the largest automobile market based on sales with around **** million units in 2023. However, monthly car sales in China were in free-fall in April 2022 partly due to shortages, fears over a looming recession, and the country grappling with the COVID-19 pandemic. By June of that same year, monthly sales in China were closer to those recorded in 2021.

As of October 2020, North American auto demand was around 2.5 million units below 2019 levels. In terms of production in North America's largest market, output in the U.S. automotive industry was roughly 4,300 units in April 2020. U.S. plants reopened after a nine-week shutdown amid the coronavirus outbreak in the United States.

In 2020, following the corona virus pandemic, the vehicle industry in the Gulf Cooperation Council (GCC) region had a decrease in its revenue from one time car sales of **** percent compared to 2019. In that year, remote test drives were being introduced to encourage car sales.

In 2020, motor vehicle sales dropped worldwide, following mobility restrictions amidst the COVID-19 pandemic. Latin American countries were also impacted, although in different levels. In the region's largest vehicle markets, namely Brazil and Mexico, sales decreased by **** and **** percent, respectively, when compared to the previous year. Meanwhile, in Ecuador and Costa Rica, sales of light and heavy motor vehicles declined by more than ** percent. In contrast, in Uruguay, motor vehicles sales registered a year-over-year drop of ** percent.

As the e-commerce industry becomes a prominent platform for converting sales globally amid the Covid-19 pandemic, attitudes toward buying a car online remain considerably hesitant, according to a survey conducted by Capgemini in May 2020. Respondents from the UK, at ** percent, proved less likely to buy their future cars online from an OEM (original equipment manufacturer) or dealership, while respondents from India (** percent) and China (** percent) claimed they would buy their car online in the future. It is clear from these statistics that some reluctance toward purchasing cars online in the future still remains.

The U.S. auto industry sold nearly ************* cars in 2024. That year, total car and light truck sales were approximately ************ in the United States. U.S. vehicle sales peaked in 2016 at roughly ************ units. Pandemic impact The COVID-19 pandemic deeply impacted the U.S. automotive market, accelerating the global automotive semiconductor shortage and leading to a drop in demand during the first months of 2020. However, as demand rebounded, new vehicle supply could not keep up with the market. U.S. inventory-to-sales ratio dropped to its lowest point in February 2022, as Russia's war on Ukraine lead to gasoline price hikes. During that same period, inflation also impacted new and used car prices, pricing many U.S. consumers out of a market with increasingly lower car stocks. Focus on fuel economy The U.S. auto industry had one of its worst years in 1982 when customers were beginning to feel the effects of the 1973 oil crisis and the energy crisis of 1979. Since light trucks would often be considered less fuel-efficient, cars accounted for about ** percent of light vehicle sales back then. Thanks to improved fuel economy for light trucks and cheaper gas prices, this picture had completely changed in 2020. That year, prices for Brent oil dropped to just over ** U.S. dollars per barrel. The decline occurred in tandem with lower gasoline prices, which came to about **** U.S. dollars per gallon in 2020 - and cars only accounted for less than one-fourth of light vehicle sales that year. Four years on, prices are dropping again, after being the highest on record since 1990 in 2022.

At around 948,000 unit sales, light trucks remained the largest U.S. auto market segment in September 2024, down from around 1.2 unit sales in October 2024 and decreasing by approximately 11.2 percent year-on-year. Global chip shortage affects supply The second quarter of 2020 saw a significant drop in automotive sales volume compared to the year before. Most of the disruption was seen in May, before restrictions to curtail the coronavirus pandemic were lifted. Sales showed signs of recovery in the following months, before dropping again in 2021. The industry's inventory-to-sales ratio nosedived in May 2020, and has not fully recovered since. Supply issues were not felt as strongly across the automotive sector, while car demand was low due to national lockdowns brought on by the pandemic. However, as consumers' purchasing intentions picked up, vehicle stocks could not meet the new demand due to chip shortages, which led to production halts and cuts. U.S. vehicle sales gain momentum thanks to light truck sales As the year 2020 came to an end, motor vehicle sales in the United States finished on a high note. Following the Covid-19 disruption, the U.S. auto sector began to recover in the third quarter. However, the semiconductor shortage and global inflation further impacted sales in 2021 and 2022. In contrast, 2023 was an encouraging year. U.S. motor vehicle sales grew to over 15.5 million that year, which was the highest it had been since the onset of the pandemic. This jump in sales was partly due to light truck retail sales, which exceeded their pre-pandemic level in 2023.

The global auto industry is anticipated to be affected by the outbreak of COVID-19 in all major markets. In a worst-case scenario, the industry's gross value added could be down 10.6 percent in 2020.

Between 2019 and 2024, the largest segment of MAN SE in terms of unit sales was the vans segment. In 2024, the company sold nearly ****** vans. The sharp period of decline in vehicle sales during 2020 was in the midst of both the COVID-19 pandemic and global semiconductor shortages. It was not only MAN that suffered such losses as the number of cars sold worldwide suffered a decline during that same period.

At about 23.56 million units, China remained the largest market for passenger car sales in 2022. According to the source, passenger cars are motor vehicles with at least four wheels, used for the transport of passengers, and comprising no more than eight seats in addition to the driver's seat. Hence, the figures do not include light trucks.

Pandemic causes sales slump across all markets

Worldwide, passenger car sales have been slowly increasing. Car sales started falling dramatically during the 2008-2009 economic crisis and re-entered a sales slump at the end of 2018. Sales slumped in 2020 due to the outbreak of Covid-19 and related measures to curb the spread of the coronavirus. However, despite the impact of the semiconductor chip shortage on vehicle production, global car sales have slowly increased in 2021 and 2022. This growth is however still behind the sales volume recorded in 2019, before the onset of the pandemic. Spotlight on the largest markets
In Europe, about 75 percent of new passenger car registrations occur in the largest markets, which include Germany, France, the United Kingdom, Italy, and Spain. Despite a slowdown in demand in 2020, China has seen the largest increases in passenger vehicle sales between 2005 and 2020, growing from 3.97 million units to some 20 million units. During this time period, leading original equipment manufacturers (OEMs) like General Motors or Volkswagen enjoyed rising sales trends not just in China, but across all Asian markets. China, Japan, Germany, India, and the United States are ranked among the world’s largest car markets. These countries are home to many of the major motor vehicle manufacturers, including theworld’s largest automakers in 2022.

Motor vehicle sales had significantly decreased in Latin America amid the COVID-19 outbreak, before recovering through 2021 to 2022. In 2023, Venezuela reported a year-over-year growth rate around 82.9 percent, while Mexico's automotive market grew by 24.63 percent. On the other hand, the markets in Chile and Colombia experienced a significant decrease in 2023.

Global vehicle sales have experienced significant fluctuations over the past two decades, with 2024 marking a return to pre-pandemic levels with over ** million units of sales. The industry saw a sharp decline in 2020 due to the COVID-19 pandemic, followed by a gradual recovery. However, the semiconductor shortage in 2022 led to inventory issues and a slight decrease in sales. Despite these challenges, the market rebounded strongly in 2023, surpassing ** million units sold worldwide. Recovery and future outlook The automotive industry's resilience is evident in its rapid recovery from the pandemic-induced slump. The commercial vehicles market is projected to have an annual growth rate of **** percent (2024-2030), resulting in a market volume of ***** million vehicles by 2030. This positive trend is supported by the rebounding sales in China, the world's largest automotive market, and the growing demand for electric vehicles. The global production of motor vehicles reached ** million units in 2024. Electric vehicles driving growth The shift towards electric vehicles is playing a crucial role in the industry's growth. In 2024, plug-in electric light vehicle sales reached an estimated **** million units globally. This surge in demand is particularly noticeable in China and Europe's largest markets. Despite the challenges posed by the pandemic and semiconductor shortages, the electric car market experienced record growth, with market share increasing significantly. However, as government subsidies for electric vehicles begin to be rolled back in some countries, the industry may face new challenges in maintaining this growth momentum.

In December 2023, approximately *** million passenger cars and ******* commercial vehicles were sold in China, an increase compared to the previous month. Automobile demand in China China is home to the world’s largest market for automobile sales. Despite the recent decline in passenger car sales in China during the COVID-19 pandemic, the market bounced back and in 2023, the sales exceeded ** million units, making it the highest figure in the past years. Chinese car manufacturers China’s automobile market used to be dominated by international car manufacturers until recently. In 2021, Chinese manufactured vehicles had a market share of about **** percent in the Chinese vehicle market, followed by German vehicles and Japanese vehicles. The leading passenger car manufacturer is FAW-Volkswagen, which reported sales of about *** million vehicles in the same period.

Crossovers are Americans’ favorite type of passenger vehicle. This category accounts for over ** percent of automobile sales in the United States as of June 2022. The most popular models include Honda’s CR-V, Nissan’s Rogue, and Toyota’s RAV4. In the first quarter of 2022, U.S. auto buyers bought just under ******* units of Toyota’s RAV4 model, making it the best-selling vehicle in this category. Toyota is the market leader   The RAV4 was one of the very first specimens of its kind, as production of this model began in 1994. Toyota was the second most valuable automotive manufacturer worldwide in 2022, with a brand value of just over **** billion dollars. It followed Tesla, which was first in the ranking with a gap of over ** billion dollars compared to the runner-up. Toyota’s net revenue rose to **** trillion Japanese yen in 2022 (around *** billion U.S. dollars as of March 2022 exchange rates), a visible growth of over ** percent compared to 2021, despite the manufacturer being impacted by the global automotive chip shortage.  Crossovers benefit from the shift away from sedans   Crossover SUVs (sport utility vehicles) combine the fuel efficiency levels of compact and midsized cars and the higher seating positions of light trucks. They gained in popularity when fuel prices were low and, consequently, automakers increased production volumes and model additions of this vehicle type. Between 2014 and 2021, U.S. car sales fell from over *** million to around **** million units. Concurrently, light truck sales increased from *** million units in 2014 to close to **** million units in 2021. The impact of the COVID-19 pandemic on vehicle demand led to a *** percent drop in light truck sales in 2020. This drop in vehicle sales impacted countries across the globe. In 2020, Germany recorded a loss of over ******* sales of SUVs compared to 2019, whereas China’s new SUV registrations remained stable between the two years.

Global passenger car sales reached **** million units in 2024, marking a *** percent increase from the previous year. In 2023, the sales volume recovered from the pandemic effect and amounted above the pre-pandemic number with ***** million units. This rebound in the automotive market comes after several years of fluctuations, including a sharp decline in 2020 due to the COVID-19 pandemic. China maintained its position as the world's largest regional market for automobiles, with sales of nearly **** million units in 2024. European market dynamics and electrification trends In the European Union, Volkswagen emerged as the top-selling brand in 2024. The shift towards electrified vehicles gained momentum. This trend is driven by policies such as the EU's ban on new fossil-fuel car sales from 2035. Norway, despite experiencing a sluggish increase in overall passenger car sales, maintained its leadership in electric vehicle adoption. Global industry leaders and market challenges Toyota and Volkswagen continue to dominate the global automotive industry in terms of revenue and vehicle sales. The industry has faced significant challenges in recent years, including the global automotive chip shortage and raw material price increases. China has emerged as a key player, both as a major market and as a source of competition for established manufacturers. The trend towards electric and autonomous vehicles is reshaping the industry, with companies like Tesla delivering **** million vehicles in 2024, though still far behind traditional automakers like Volkswagen Group.

In 2020, following the corona virus pandemic, the vehicle industry in the Gulf Cooperation Council (GCC) region had a revenue of about **** billion U.S. dollars from the downstream services of one time car sales. Revenue from car sales in the region saw a **** percent year on year decrease compared to 2019.

From 2016 to 2022, vehicle sales generally increased. Sales grew from ***** thousand units in 2016 to *** thousand units in 2019. In 2020, vehicle sales fell to *** thousand units, but was followed by a period of significant growth between 2021 and 2023, with ***** and ***** thousand units sold.

The brief period of decline in total vehicle sales was in the midst of both the COVID-19 pandemic and global semiconductor shortages. It was not only the Traton Group that suffered such losses as the number of cars sold worldwide suffered a decline during that same period.

COVID-19 redirected consumer intentions in the mobility sector. The effects are different across countries. In Germany and the United States, a slight drop in car purchase intentions as of August 2020 was recorded. In China, however, the change in consumers intending to purchase a new vehicle post-COVID rather than pre-COVID went up by seven percent. It is likely that the pandemic has put some people off public transport and are attracted to the personal space of an owned vehicle. Consumers who are now less likely to buy a new car may be put off for financial reasons. During national lockdowns in 2020, vehicle purchase plummeted. Economic standstill and lay-offs kept car sales low for the year overall.