Lockdowns across Europe to curb the coronavirus pandemic drastically changed how we move around the world. Work-from-home restrictions, furlough schemes, and job losses left millions of cars gathering dust in driveways.
It is not surprising that the demand for new cars plummeted. In Germany – Europe’s largest car market – new car registrations in the first half of 2020 declined by 35% compared to the same period in 2019, and during the height of restrictions (April), sales slumped a historic 61%. Sales for 2020 across the rest of Europe’s largest car markets in the first half of 2020 performed even