Specialists of the rating agency believe that by the end of the year, sales volume may decline by 14%. The previous forecast, published in February, assumed a drop of only 2.5%.
The Moody's report states that the most noticeable decline in demand is expected in the Western European market, where car sales will decrease by 21%. The agency's previous calculations spoke of a 4% drop. According to analysts, sales recovery is possible only by 2021.
In addition, experts forecast a reduction in passenger car sales in the United States in 2020 by at least 15%, whereas earlier a decline of only 1.2% was expected.
It is also predicted that the Japanese car market will lose about 8% of sales.
In the largest regional market - China - demand for passenger cars, according to Moody's estimates, may fall by 10%, although the early version of the forecast featured a reduction of 2.9%.
