12:58 - 8.09.2020

---

September 8, Fineko/abc.az. International rating agency Moody's has changed the forecast for the global automobile industry from ‘Negative’ to ‘Stable’ against the background of the expected recovery in car sales.

ABC.AZ reports that vehicle sales are expected to grow rapidly over the next 12-18 months.

Moody's chief vice president Bruce Clark said the stable outlook for the global auto industry reflects growth that will continue at a faster pace through 2021, but generally at a slower pace through 2023. Clark added that car deliveries will not return to pre-pandemic levels until the middle of the decade.

It should be noted that Moody's analysts expect that global deliveries of passenger cars this year will decrease by 19 million and reach 73 million, and in 2021 will increase to 80 million.