With manufacturing halted, employees on lockdown and showrooms closed, there had been little debate around the inevitable
global downturn of the automotive market as a result of the Covid-19 pandemic. Historically, during periods of economic lowdown
the automotive market is negatively affected. This was apparent following the 2008/2009 financial crisis when the European
automotive market saw a c.40% decrease in peak-to-trough sales. Goldman Sachs is forecasting a more severe 78% decline in the
European automotive market in Q2 2020 as a result of the pandemic. However, with the popularity of electric vehicles prior to Covid-19
on an upward trajectory, the question remains – will the positive growth of the electric vehicle market continue, and adoption rates hold
steady, or will it follow a similar path to the wider automotive market?
Find out more in our insight paper by Engenie’s Business Analyst Harry Bleasdale: The EV Market Post-Covid19