How has COVID-19 impacted residual values in Europe?
27 August 2020
27 August 2020
It has been almost seven months since the first official coronavirus (COVID-19) case was reported in Europe. Since then, governments across the continent have put procedures in place that had never been seen before. Whole countries locked down, travel bans were implemented and entire industries stopped as countries raced to reduce their rates of infection.
The automotive industry was particularly hard hit by the outbreak and resulting lockdowns. Vehicle production stopped, and dealerships closed, bringing a halt to sales. Since these lockdowns have eased, it is starting to become clearer how markets are reacting.
Yet questions remain. Will incentive schemes across Europe present additional residual value (RV) risk? How severe an economic decline should we expect towards the end of 2021? Are there still hopes of a V-shaped recovery?
To provide further insight into how the automotive market is reacting in the wake of COVID-19 lockdowns, and the impact the economic turmoil is having, or could have, on RVs, Autovista Group is holding a webinar: COVID-19 residual value impact – where are we now?
The 45-minute session is taking place on 16 September at 11.00 CEST (10.00 BST) and will see a number of Autovista Group’s experts, representing markets across Europe, come together to discuss the current state of the automotive market and the effect on RVs. Topics to be discussed include:
- Europe’s three main scenarios for used-car market reactions
- The latest outlook for residual-value performance across Europe
- What is happening in your country and what it means for RVs
- How markets are responding in the recovery phase
- What you need to know for successful RV scenario planning and risk management
′With the COVID-19 threat still present around the world, it is essential for businesses to have up-to-date information to help them understand the current situation and navigate through whatever the future holds,’ commented Phil Curry, Autovista Group Daily Brief editor and chair of the webinar. ′When economic problems strike, the automotive industry is often particularly affected, yet there is more of an opportunity for used-car sales during these times, so having the latest information on RVs and the outlook for markets across Europe is essential, especially in these unprecedented times.’
To register for the free Autovista Group Webinar: COVID-19 residual value impact – where are we now? click here and fill in your details.