CoVid-19 costs automotive sector € 3.7 billion a week!

These figures reflect a cumulative loss of missed sales, maintenance and repairs of passenger cars, commercial vehicles and tires in the automotive sector…

CoVid-19 costs the car sector € 3.7 billion a week

Traxio estimates that if the lockdown light measures are implemented until May 3, 2020, the total loss will rise to 34 billion euros, or 20% of the total annual turnover of the sector. Annual turnover will then decrease to EUR 138 billion compared to EUR 172 billion in 2019. If these measures continue until May 31, 2020, the total loss will grow to even EUR 47 billion, or 27% of the total annual turnover of the sector. In this scenario, annual turnover will decrease to 126 billion euros compared to 172 billion in 2019.

“The 10,000 companies and 100,000 employees in the automotive sector are extremely affected by the Corona crisis,” said Filip Rylant, spokesman for Traxio. “The measures taken in the fight against the Corona virus have almost completely reduced sales and maintenance. In order to avoid many companies going bankrupt and to avoid a potentially unsafe rush after the quarantine period, Traxio requests that the car, motorcycle, bicycle, tire and car wash sectors can gradually resume their activities from 19 April 2020, with strict respect for hygiene and health. ”


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