Dec 29, 2020
New light vehicle sales of 83,4-million globally are forecast in 2021, up 9% from a 2020 projection of 76,5-million, as industry demand levels emerge next year in the wake of recovery from the Covid-19 pandemic – especially in major markets.
The IHS Markit forecast assumes that effective vaccines will be widely available by mid-2021, although full availability is not expected until sometime in 2022.
Full year 2020 sales are expected to be down 15% from the levels achieved in 2019.
IHS Markit remains cautious on recovery prospects, with key markets likely to experience differing demand cycles. Some markets face further fallout from the pandemic, not least due to additional virus-control restrictions for the winter months.