Fewer company cars were sold in the European Union last month than a year earlier, despite picking up demand after the first blow of the corona crisis.
This is reported by the European trade association for the automotive industry ACEA. Measured over the first ten months of 2020, sales of delivery vans, trucks and buses are more than a fifth lower. In total, 172,743 company cars were registered in October, a decrease of 1.2 percent compared to the same month last year. The picture differs greatly from country to country. For example, sales of company cars increased in Germany and Italy, while France and Spain were still experiencing a decline in the number of registrations.
The most recent figures from ACEA show that it is mainly due to the sale of vans that the decline was limited in October. Light commercial vehicles were sold 0.7 percent more often last month than twelve months previously. The number of registrations of heavier vehicles, such as trucks and coaches, was up to 12.6 percent lower than in October 2019. This decrease indicates that entrepreneurs are still reluctant to invest. Uncertainty about the further course of the corona pandemic and the resulting crisis, makes them prefer to keep money in cash as a financial buffer.