Global car production plunged in 2020, say automakers

Published March 26, 2021
Global production of automobiles tumbled by 16 per cent last year to a level last seen in 2010. — AFP/File
Global production of automobiles tumbled by 16 per cent last year to a level last seen in 2010. — AFP/File

PARIS: Global production of automobiles tumbled by 16 per cent last year to a level last seen in 2010 as the industry was pummelled by the coronavirus pandemic, an international carmaker association said Thursday.

With a drop to less than 78 million units sold, the auto sector faced “its worst crisis ever,” the president of the International Organization of Motor Vehicle Manufacturers (OICA), Fu Bingfeng, said in a statement.

A breakdown of the organisation’s data showed that in Europe, the drop in output was 21 per cent, while in North America it fell by 20 per cent and in South America by 30 per cent.

In Asia however, which accounts for half of all vehicles produced worldwide, the decline was more modest, at 10 per cent.

Chinese production “which was hit hard in 2020’s first months, recovered very quickly; all in all, the Chinese reduction in production has been limited to only two per cent,” the OICA statement noted.

The full-year figure was “equivalent to 2010’s sales levels,” it added while Fu said: “The 2020 results wipes off all the growth made over the last 10 years.”

Published in Dawn, March 26th, 2021

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Another U-turn?
Updated 07 Oct, 2022

Another U-turn?

The PTI’s decision to take back its resignations could herald a twist in the tussle playing out in Islamabad.
Renewed TTP threat
07 Oct, 2022

Renewed TTP threat

THE interior ministry’s call for ‘extreme vigilance’ and instructions to security forces to conduct ‘search...
Women’s gala in GB
07 Oct, 2022

Women’s gala in GB

REGRESSIVE forces, once again, nearly had their way — this time in Gilgit-Baltistan. A three-day sporting gala for...
‘Draconian’ law
06 Oct, 2022

‘Draconian’ law

THE debate over what it means to be ‘sadiq’ and ‘ameen’ has reignited after the incumbent Supreme Court ...
Welcome clarity
Updated 06 Oct, 2022

Welcome clarity

There needs to be consensus amongst all political actors that matters of governance should be the exclusive domain of civilians.
Car purchases
06 Oct, 2022

Car purchases

IF we are in the market to buy a new car, we end up paying a significantly large amount as premium over the sticker...