The automotive sector will lose some 24,700 million euros in turnover in 2020, as a result of the effects of the crisis derived from the Covid-19 pandemic.

The factories closed for two months during the peak of the health crisis and vehicle sales have plummeted since then, to the point that car brands already consider it impossible to match the results of the previous year.

A study by consulting firm Kiriom predicts that the automotive industry will not return to pre-coronavirus levels until at least 2022, although the recovery could be prolonged in the event of serious outbreaks that interrupt the economy again.

Kiriom casts good prospects on renting to individuals and points out that the digital channel will double its volume before 2025, given the circumstance that those interested in acquiring a vehicle will go less to dealers.

He argues that the rise of the electric car can also be slowed down by its high price and what it defines as a lack of innovation.

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