Global | Auto output to recover pre-covid levels by mid-2021

Following the record-breaking fall in global automotive activity in the first half
of 2020, the market has staged an impressive rebound, with global light
vehicle selling rates in the autumn back to their pre-pandemic levels, as
pent-up demand and country-level incentives have boosted demand.

Vehicle production however has struggled to keep up with the sharp
rebound in demand. This was evident in the US, for example, as the
market started to recover from lockdowns, while inventory levels fell to multiyear lows. As a result, production will lag sales for 2020 as a whole. We
would expect the situation to reverse somewhat in 2021, with inventory
building helping to boost production.

Download this report to learn more about:

  • Motor vehicles - Downturn and recovery by country
  • Motor vehicles - Key drivers
  • Motor vehicles - Macro risks

Topics: Industry

motor vehicle and parts Q4 2020 - Oxford Economics