News ID : 3871
Publish Date : 04 January 2020 - 10:02
While the Fitch Credit Ratings report predicted a worldwide decline of about 4%, this was the sharpest decline in auto industry sales since the recession of 2008, and experts believe the situation will not improve at 2020.
Khodrocar - Reports show that sales fell 4 percent from 2018 to 2019, reaching about 77.5 million units sold.

There are various theories about the reasons for the decline in car sales and the declining trend in the world's largest car market, China, as the most important factor in the sharp decline in global car sales.

"The likelihood of a continuing US trade war with China and Europe and the increase in customs tariffs that ultimately lead to rising automobile costs and rising car prices in the world are another reason." said Farbod Zaveh, an expert on the automotive industry in an interview with Khodrocar.  

 Forecasters for the year 2020 also do not anticipate the possibility of a return and improved sales, while stressing that the decline will not be more severe.

 The analysts do not expect a significant improvement in the automotive industry by 2020, the automotive expert says: "At best the prospect for the automotive industry is about sustainability and no big return, but no doubt automakers should avoid over-production and put production in line with demand.”

"Another option is to increase sales efforts, which is done with attractive sales conditions, which can lead to a devaluation of cars.” He added.

Meanwhile, statistics and reports published on the best-selling-cars website compare car sales in different countries in the year 2019 compared to the last year, which shows that car sales in the European market since the beginning of the year by the end of third season, it had declined by 1.6 percent.

Reports indicate that car sales have been declining for years and years, with only two Hyundai and Honda auto makers left.  In the meantime, US car companies have been facing price hikes and declining sales due to rising car tariffs. General Motors was the first automaker to see a 5 percent drop in sales.  Ford is the second largest carmaker on the list to experience a drop in sales.

In terms of product sales, the third-largest company is still the US, which is Fiat. Economic experts as well as the US Economic Affairs Office emphasize that we should encourage consumers to buy more cars.

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