COVID-19 costs Belgian car business €3.7bn per week
Belgian car and car-related industry federation Traxio has calculated that the cumulative loss of missed sales, maintenance and repair of passenger cars and commercial vehicles, and tires amounts to 3.7 billion euros per week.
If the lockdown measures are maintained until May 3, 2020, the total loss will rise to 34 billion euros, or 20% of the industry’s total annual turnover. If they last until May 31, 2020, the total loss will rise to an estimated 47 billion.
In order to avoid companies going bankrupt and to avoid a potentially unsafe rush after the quarantine period, Traxio requests that the car, motorcycle, bicycle, tire and car wash businesses can gradually resume their activities from 19 April 2020, with strict respect for hygiene and health.
Graph featured: Traxio, 2020