The major German car manufacturers have recorded a 10.1% drop in sales amid the pandemic, meaning they have fared better than any other car producing nation in the world.
French manufacturers have suffered the sharpest decline, achieving 20% less revenues in 2020 compared to the previous year. Meanwhile, operating profits at VW, BMW and Daimler fell by 26%, as shown by data from an „EY“ study. The biggest carmakers worldwide have seen profits contract by 37%.
Car manufacturers have above all benefited from good business with China, with 39.4% of vehicles produced by the three DAX-listed companies going to the Middle Kingdom.
Car Slump
19.1% fewer new passenger cars were registered in Germany over the crisis year 2020 than in 2019. 46.7% of these were petrol cars.
Electromobility has yet to play a major role in absolute terms – although this could quickly change. More and more companies are focusing increasingly on e-mobility, and while Tesla has been the leader in this so far, the tide could soon turn.
Tesla put 0.4 million electric cars on the road in 2019, while Volkswagen only managed 0.1 million. However Volkswagen could catch up with the US pioneers in 2025, when both companies are set to produce 1.5 million electric cars.
