UK Automotive Industry Insights
Automotive’s COVID-19 journey across Europe
Italy was the first market to see a dip after being the first European market to be heavily impacted by COVID-19.
France recovered the quickest after their PM first mooted the idea of easing lockdown at the end of April.
Interest in the UK market remained steady until lockdown was announced in March and saw signs of recovery when it was announced car showrooms could open again.
Sweden saw the least swing, possibly due to the fact they didn’t implement a full lockdown but have seen an extended dip after public confidence was knocked due to a rise in new COVID-19 cases in June.
Car financing research seeing an increase amongst prospective buyers
Prior to COVID-19 people were mostly visiting new car content and this remained the top interest throughout recovering sooner than other on-site events.
People researching how to finance a new car saw a minor peak early in lockdown and this has since surged when considering a new car purchase, even overtaking looking at the new cars themselves.
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