Singapore, Sept. 18 -- : Global light vehicles sales are expected to fall by 20 per cent this year compared with 2019 following sales and production disruption due to the COVID-19 pandemic, S&P Global Ratings in a report published on Friday.
"This new forecast follows a first-half 2020 sales slump of 25 per cent, an unprecedented shock for the global industry," said S&P Global Ratings analyst Vittoria Ferraris.
"We project global vehicle sales to expand 7 to 9 per cent both in 2021 and 2022, meaning that light vehicle sales two years from now will still be 6 per cent below 2019 volumes."
Any upside to our sales scenario will stem mainly from the Chinese market, the most dynamic but least predictable among the main global auto markets, sa...