COVID-19 Impact on European Automotive Industry Market Industry Size, Share, Growth and Forecast To 2025

The European automotive industry includes Original Equipment Manufacturer (OEM), auto-ancillary companies, vendors, and aftermarket vehicle and their parts dealers. The European automotive market was witnessing a modest growth rate from 2013. As per the International Organization of Motor Vehicle Manufacturers (OICA), around 20.80 million vehicles were sold in 2019 as compared to 20.69 million in 2018. As per the European Automobile Manufacturers Association, there are 309 vehicle assembly plant and production plants in 27 countries in the European Union (EU). Around 13.8 million people work in the auto industry in the region which accounts for 6.1% of overall EU jobs in 2019. In the EU-15, around $467 billion tax was collected through the auto sector.

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Significant growth in the market was expected before the COVID-19 pandemic as an exponential growth was witnessed in the electric vehicle market in the region from a couple of years. The price of an electric vehicle is much higher as compared to a conventional fuel vehicle, which was augmenting the region market.

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By April 2020, Europe is the most affected region due to COVID-19. Around 885,000 cases related to COVID-19 was witnessed in the country by 13th April 2020. Spain, Italy, France, and Germany have registered more than 100,000 cases. Due to this, the lockdown was announced by the government in most of the countries.

The European automotive industry report is segmented by sales channel, vehicle type, and propulsion technology. By the sales channel, the segment is further divided into OEM, auto-ancillary, and aftermarket. By vehicle type, the report is further analyzed into passenger vehicle and commercial vehicle whereas, by propulsion technology, it is bifurcated into conventional energy vehicles and new energy vehicles. New energy vehicle that is electric vehicles sale is expected to get affected significantly as the key motivator for these vehicles was the subsidies offered by the government.

The effect of COVID-19 on the automotive industry is witnessed in each country in the region including Germany, Spain, Italy, France, UK, and others. Germany is the largest automotive player in the region will significantly get affected due to the pandemic. Key companies of the automotive industry that are affected in the region include; Daimler AG, Jaguar Land Rover Ltd., Volkswagen AG, Renault Group., Groupe PSA, Tesla Inc. among others.

Segmentation

Sales Channel
OEM
Auto-Ancillary
Aftermarket
Vehicle Type
Passenger Vehicle
Commercial Vehicle
Propulsion Technology
Conventional Energy Vehicles (Gasoline)
New Energy Vehicles (Electric)

Regional Analysis

UK
Germany
Italy
Spain
France
Rest of Europe

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