2021 car sales has a long way to go up to create recovery. These are the outlook for this year.
Last year was not too good in terms of car sales. There was still a traditional run on teething tricks at the end of the year, but overall you can speak of a dramatic year. With sales of 356,000 new cars (-20%), the Netherlands reached the lowest level in 50 years. But there is hope.
Car sales 2021: the good and the bad news
The light at the end of the tunnel comes in the form of an economic outlook ING. The bank’s economists look into the crystal ball and make a cautious prediction for this year. Recovery is coming, but it will be slow. According to the economists, this has to do with a number of things. First, corona, which brings uncertainty. Secondly, the number of business kilometers decreases considerably due to the many working from home and there is therefore less business sales. And third, unemployment will rise in 2021, which means less disposable income.
Fortunately, there are also bright spots. With the prospect of vaccines, the Dutch are less gloomy and savings balances have increased. That money can be used to buy a new car, according to ING. In addition, electric cars are becoming more attractive from a cost point of view and private lease continues to grow. The latter removes the barrier of a high purchase of a new car.
ING is aiming for a 10 percent recovery in car sales by 2021. Economists at the bank estimate that 390,000 new cars will be sold this year. The share of electric cars is therefore on the way to a quarter. The effects of corona will still be felt in the workplace. Because fewer kilometers are made, less maintenance is also required.
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