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【Youth Diary】 Last September, global car sales increased for the first time this year.
However, it is unclear whether some countries will continue to recover from October, as some countries imposed a lockdown due to the reproliferation of the new coronavirus infection (Corona 19).
According to the Korea Automotive Industry Association (KAMA) on September 9, global car sales in September registered 7.95 million units, 2.0% more than in the same month last year.
By region, sales were up from last year, mainly in the US, Europe, China and India.
Specifically, the United States saw an increase for the first time since the Corona 19 outbreak, with 1.34 million units sold, 6.1% more than last year.
This is analyzed for the influence of the government’s economic stimulus measures, such as lower interest rates and increased demand for cars, as consumers avoid public transport.
Europe sold 1.8 million units, 11.9% less in August and 5.3% more in September. The demand for air has been partially resolved and incentives for low-emission vehicles appear to have had an impact.
However, it is unclear whether sales growth will continue as Corona 19 repeats itself in the United States and Europe starting in October.
In Europe, new car sales are expected to decline due to auto shop closings, as France, the UK and Belgium all issued lockdowns starting this month. The sentiment is expected to contract.
In the United States, car sales rose 1.1% last month, but it is not known if the increase will continue due to the reproliferation of Corona 19, the high unemployment rate, the contraction of consumer confidence due to the increase permanent unemployment and the delay in negotiations for additional economic stimulus funds due to the presidential elections.
Consequently, the association diagnosed that it was unclear whether the robust domestic car exports from September to October could continue.
In particular, they were concerned that there is a possibility that the liquidity crisis of the associated companies could proliferate again due to increased union risks, such as the recent partial strike of the GM Korea union, the preparations for the strike of the Kia Motors union and the delay in negotiations between the workers and the management of Renault Samsung Motors.
Man-gi Chung, President of the Automobile Industry Association, said: “It is fortunate that the crown crisis has slowed and global demand has recovered, but there are concerns that global demand will rebound to the end of the year due to the reproliferation of the crown in the US and Europe, the liquidity crisis of our companies continues. He said: “Conflicts between manpower and management in the auto industry should be resolved as soon as possible, considering the situation in the underfunded auto parts industry.”
【Youth Diary = Reporter Lee Seung-gu】
