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Global recovery on the line as road transport losses escalate - (IRU)

17 Jul 2020

 

Road freight transport losses globally in 2020 will exceed € 550 billion, down 18%

Passenger transport impact three times greater; in Europe alone losses will exceed € 80 billion, down 57%

New IRU research shows that more than 3.5 million road transport operators globally are facing unprecedented financial losses this year, as a result of transport restrictions and the overall economic downturn caused by the pandemic.

Goods transport companies globally expect an average 18% decline in turnover in 2020, totalling EUR 551 billion.

Passenger transport companies in Europe expect to lose EUR 81 billion this year, or 57% of their annual revenue.

Coach tourism (-82%) and intercity (-70%) services are most affected, followed by taxi companies (-60%) and urban bus services (-42%)

Companies in Bulgaria, Spain, Sweden and the UK face more than 70% decline

IRU has published a 10 point recovery plan, with financial and non-financial measures for governments and banks, to support struggling road transport operators, ease the movement of people and goods, and drive global recovery, but very little, and in some cases nothing, has happened since.

 

Source IRU- 30 JUN 2020

 

Further information:

https://www.iru.org/resources/newsroom/global-recovery-line-road-transport-losses-escalate?utm_medium=email&utm_campaign=NWL2006%20-%20Corporate%20Newsletter%20July%202020&utm_content=NWL2006%20-%20Corporate%20Newsletter%20July%202020+CID_489eb5f7e09c18d8dc4f1322b55e0f31&utm_source=Campaign%20Monitor&utm_term=Read%20more