IDRV - Global auto sales picking momentum in 2021: IHS Markit

Global new light vehicle sales in 2021 are estimated at 83.4M, up 9% from a 2020 projection of 76.5M amid recovery in industry demand levels especially in major markets, IHS Markit (INFO) stated.See chart here:Forecast assumes that effective vaccines will be widely available by mid-2021, although full availability is not expected until sometime in 2022.FY20 sales are expected to be down 15% from 2019 levels.Region-wise, European recovery prospects are mixed with worrying virus resurgences and ongoing restrictions, varied economic support, the Brexit negotiations and fears for a post-holiday third wave of the virus.IHS Markit predicts total Western and Central European automotive sales at 13.7M units in 2020 (-24.2% Y/Y).Cautious December roll-out of the vaccine in the U.K. provides some hope in the gloomy mid-winter ahead of the new year, with demand growth set at 11% Y/Y, to 15.3M units for 2021, although Brexit risks remain.Chris Hopson, principal automotive analyst at IHS Markit,

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Global auto sales picking momentum in 2021: IHS Markit