What we are facing with the coronavirus is a crisis on all levels. While the number of infected...
2020-03-10 10:28:00
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Coronavirus also brakes the car market in Italy

New registrations down sharply

What we are facing with the coronavirus is a crisis on all levels. While the number of infected grows and Italy become the country with the largest number of deaths after China, the economy is virtually on its knees. The exchanges worldwide continue to burn billion, and analysts rectify its outlook both in our and in other nations. The car market will be one of those affected by the crisis, with Italians who prefer to focus on basic necessities, food and health of various kinds.
The Centro Studi Promotor reported some worrisome damage. Registrations of February 2020 were down 8.8% compared to 2019. However, it seems that this value does not depend directly by the epidemic, as registrations are more number of cars book one or two months before detection. However, what leaves more to think about is that the dealers of the respondents 79% said it is concerned about the low number of visitors in the halls, while 75% added that there was also a low number of orders.
Consumers are at home, there is so much concern, priorities change and expenditure resizing. We therefore expect a significant drop in sales from March, with an uncertain situation and largely dependent on the management of the epidemic.
Experts of the industry hoped to reach 2 million registrations in the course of 2020, a result that at this point will be quite difficult to achieve. This threshold was considered important for a renewal of the car fleet, absolutely necessary in our country. As we saw in a previous article in fact, the death rate from traffic accidents in Italy is much higher than that of countries where they circulate more new cars.
Abrupt braking to the world economy due to the coronavirus is however pushing the lending market at affordable interest rates, by virtue of a request down. If you are interested you can request a free quote or more information about cifonline.