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Europe's €8.6 trillion consumer sector faces uneven recovery from COVID-19


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Blog
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Six trends shaping the industries and sectors we cover in 2021
1 Feb, 2021
Author
Gautam Naik
Battered by the COVID-19 pandemic, Europe s consumer sector faces an uneven recovery over the next 24 months as households spend more of their accumulated savings on food, drink, clothing and other retail items.
Household consumption is the largest chunk of Europe s economy, contributing about €8.6 trillion, or 52.6%, of the EU s €16.4 trillion in GDP in 2019, according to EU data. The sector has typically been relatively stable during past recessions, while fixed investments and trade have suffered more.
This time, because of 2020 s unprecedented brew of lockdowns, reduced travel and mobility restrictions, the consumer impact has been brutal and disproportionate. To a large extent, the speed with which the consumer sector recovers will determine how the overall EU economy bounces back. ....

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Toyota sold 9.53 million cars in 2020, regains world's top-selling carmaker spot from Volkswagen Group


29 January 2021 11:31 am / 9 comments
The year that was 2020 was a crazy one, and carmakers – like everyone else – had to deal with plenty of uncertainty. But in the rollercoaster ride called Crazy Covid, a company has to come out on top, and it’s Toyota. The Japanese giant edged out the Volkswagen Group to be the world’s top-selling automaker.
Toyota sold 9.53 million units last year, a total that includes those of its subsidiaries Daihatsu and Hino. That was enough for it to overtake the VW Group’s 9.31 million, making 2020 the first time in five years that Toyota topped the leaderboard.
According to IHS Markit’s estimate, 2020 was a painful year for automakers, and although demand for cars recovered marginally toward the end of 2020, Covid-related factory and showroom shutdowns in the spring were enough to drag sales down 14% from 2019 levels. The firm says that the automakers’ losses were largely determined by their level of exposure to the regi ....

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Volkswagen Loses Title of World's Top-Selling Carmaker to Toyota


Volkswagen Loses Title of World’s Top-Selling Carmaker to Toyota
Bloomberg
1/28/2021
River Davis and Tsuyoshi Inajima
(Bloomberg) Toyota Motor Corp. overtook Volkswagen AG in 2020 to become the world’s top-selling automaker, the first time the Japanese group has clinched the position in five years.
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Toyota’s group sales, which include those of its subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., for the year were 9.53 million units, the company said Thursday. That compares with VW’s 9.31 million, announced earlier this month.
The victory for Toyota came despite a painful year for automakers. Although demand for cars recovered marginally toward the end of 2020, industry-wide factory and showroom shutdowns in the spring were enough to drag sales down 14% from 2019, according to an estimate from IHS Markit. ....

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