Car rental – market insights

WeYield keeps monitoring all market information helping our car rental experts to understand future impact on corporate and leisure activities. These information are not produced by WeYield but consolidated by the Marketing team. All sources with relevant url are shared.

Europe has lost 8% of automobile production over 2020 (source ACEA)undefined

Brussels, 9 April 2020 – Factory shutdowns as a result of the COVID-19 crisis have resulted in lost production amounting to 1,465,415 motor vehicles to date, according to new figures published by the European Automobile Manufacturers’ Association (ACEA).

This figure – covering passenger cars, trucks, vans, buses and coaches – is up from 1.2 million units compared to one week ago. The number could climb further if shutdowns are prolonged or more plants are closed, ACEA cautions. The average shutdown duration EU-wide currently stands at 18 working days.

Costa Cruises stops all operations until end of Mayundefined

Update on the suspension of fleet operations. The global health situation demands unprecedented action to ensure the protection of health worldwide. For the first time in 70 years, we have decided to suspend the operation of our ships until the end of May 2020.
We want to leave with you and we will do it as soon as the emergency is over. Most of sheeps journeys are stopped until early June 2020.

Lufthansa to slash fleet, shutter Germanwings in virus responseundefined

Bloomberg 7th April 2020 : Deutsche Lufthansa AG is scaling back its fleet and closing the Germanwings discount arm to resize the airline group for depressed levels of travel that could last for years after the coronavirus crisis passes. Local low-cost unit Germanwings will be discontinued, the company said. At its Eurowings sibling, long-haul offerings will be slashed and an added 10 A320s will be phased out. “It will take months until the global travel restrictions are completely lifted and years until the worldwide demand for air travel returns to pre-crisis levels,” Lufthansa said.

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