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Covid-19 hits commercial vehicle production worldwide

Covid-19 hits commercial vehicle production worldwide

Recent analysis by IHS Markit, the production of commercial vehicles globally is down 22% to 2.6 million units compared to 2019.

The impact of Covid-19 means that the industry may have to wait until 2022 before production figures return to the levels seen pre-coronavirus.

IHS Markit offered insight into some of the key markets.

Europe

With its strict lockdown, plant closures, supply chain challenges and workplace controls, Europe has been at the centre of the impact on the vehicle industry. IHS Markit predicts a drop of 14% in European commercial vehicle production.

China

Shutdowns across China meant truck manufacturers saw more than 80,000 units of lost production. However, with these lockdowns happening earlier in the year, most of China’s commercial vehicle factories have returned to almost full production again.

USA

IHS Markit data suggests we will see a 30% decline in new Class 4-8 truck registrations in the US year-on-year. 

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