Annual Report 2020

Automotive markets

On the basis of the assumed economic recovery, a significant increase in worldwide demand for cars is to be expected in 2021.

The European market is likely to grow significantly compared to the very weak level caused by the crisis. We expect significant growth in car sales also for most of the large individual European markets.

Light vehicel demand in the US market is expected to recover significantly following the sharp decline in the previous year. The Chinese car market, which developed better than most of the other major sales markets last year, is expected to expand slightly this year.

We also expect demand for vans to improve significantly compared with the previous year. In the EU30 region (the European Union, United Kingdom, Switzerland and Norway), significant growth is expected in 2021, both in the combined market segment of mid-size and large vans and in the market for small vans. In the United States and Brazil, demand for large vans is also expected to be significantly stronger than in 2020. In China, we continue to anticipate a positive development in the segment of mid-size vans and significant market growth.

The economic upturn should also result in improved demand in key truck markets.

In North America, we assume that the market for heavy-duty trucks (class 8) will expand significantly. Significant growth in demand for heavy-duty trucks is anticipated also in the EU30 region. We expect slight expansion in the Brazilian market, while a market volume at the prior-year level is likely in Japan.

The world economy
Unit sales