Analyst Pin-board: Forecast for the automobile industry in 2H2020
Results for the automobile industry in 5M2020
VAMA members' sale volume until the end of May 2020 decreased by 34% YoY, to 79,396 units. Passenger cars had the deepest drop with -36% YoY as sales were only 57,261 units. The main reason is the negative effect of the Covid-19 epidemic on people's income and consumption behavior, along with buyers waiting for the reduction policy on registration fees. In addition, sales of commercial vehicles and special vehicles decreased by 26% YoY (to 21,084 units) and 34% YoY (to 1,051 units), respectively. The main cause is that the producing and mining industries were interrupted by Covid-19.
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