COVID-19 consumer sentiment - purchase intent for automobiles 2020

COVID-19 redirected consumer intentions in the mobility sector. The effects are different across countries. In Germany and the United States, a slight drop in car purchase intentions as of August 2020 was recorded. In China, however, the change in consumers intending to purchase a new vehicle post-COVID rather than pre-COVID went up by seven percent. It is likely that the pandemic has put some people off public transport and are attracted to the personal space of an owned vehicle. Consumers who are now less likely to buy a new car may be put off for financial reasons. During national lockdowns in 2020, vehicle purchase plummeted. Economic standstill and lay-offs kept car sales low for the year overall.