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Carmakers in China Taking a Huge Blow from Coronavirus Outbreak
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2020-03-03
COVID-19 dealt China a heavy blow and made the country go as far as to halt the automotive factories countrywide for a while; therefore the automotive supply chain and sales will need several months to recover. Even if some of the factories in China have resumed operation, it is very still hard to increase the current production. Workers going back to work doesn't mean that manufacturers are away from the problem of the lack of components. Without bolts and nuts, the whole production lines would have to stop. Carmakers in many countries import components from China and it is nearly impossible to say that they won't be subject to the impact of this rampant virus.
Fiat Chrysler Automobiles is forced to shut down a plant in Europe. As for Hyundai and Nissan, they have suspended production in S. Korea. General Motors saw its latest sales tumble by 40%. Where China is being hit worst by the epidemic is also where Volkswagen would have had the highest market share in the country. Sales generated in the car showrooms in China have dropped to 5% of the total sales recorded before the outbreak of the virus, and the sales in February 2020 suffered an 80% drop. After the U.S.-China trade war over the past two years, China Association of Automobile Manufacturers originally expected a recovery of the domestic car sales in 2020. However, the unexpected virus outbreak has made the Association change its prediction to a 10% drop for the first half of 2020 and a 5% drop for the whole year.
Fiat Chrysler Automobiles is forced to shut down a plant in Europe. As for Hyundai and Nissan, they have suspended production in S. Korea. General Motors saw its latest sales tumble by 40%. Where China is being hit worst by the epidemic is also where Volkswagen would have had the highest market share in the country. Sales generated in the car showrooms in China have dropped to 5% of the total sales recorded before the outbreak of the virus, and the sales in February 2020 suffered an 80% drop. After the U.S.-China trade war over the past two years, China Association of Automobile Manufacturers originally expected a recovery of the domestic car sales in 2020. However, the unexpected virus outbreak has made the Association change its prediction to a 10% drop for the first half of 2020 and a 5% drop for the whole year.
中國新冠肺炎
武漢肺炎
車廠復工
缺料
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Covid-19
pneumonia
China
car manufacturers
sales drop
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