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What did Corona do with the global car market?  XML
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Joined: 06/09/2020 07:49:44
Messages: 7

The global outbreak of the corona virus since March has caused a major disruption in the supply and demand of the car market, and the industry has seen one of its biggest losses since World War II. On the other hand, quarantine restrictions have made people reluctant Do not show up to buy a new car, and on the other hand, car factories were shut down to prevent the virus; Auto dealerships and car dealerships also stopped working and waited for the virus to spread. In April, some car companies resumed production with health restrictions and social distances. However, the production wheel is not as fast as it used to be, and it obviously takes a while for factories to be able to produce cars as usual. In addition to closing factories, the corona outbreak has disrupted the delivery of raw materials and parts.

In this regard, different countries are seeking to restore prosperity to the car market. Germany saw a 61 percent drop in production in April from the same period last year, the lowest level since 1990. New car sales in the UK also fell 97 percent, the lowest since February 1946. The same thing happened in Spain, where passenger car sales fell 96 percent from April last year. The United States was one of the countries severely affected by the corona; Toyota and Honda experienced a 54% drop in the US market, which means that their sales have halved compared to April last year.

The decline in car demand has also been followed by the outbreak of the corona in Japan, which has been on a downward trend for the seventh month in a row, with car sales down 28 percent from April last year. However, China's car market is recovering after a hard day in Corona, with April sales up 0.9 percent year-on-year and up 39 percent from March. This dramatic growth that has taken place in China after 21 months is very promising for analysts. Although some experts believe that with the reopening of car dealerships and the return to pre-corona production, demand will increase, the impact of the Corona virus on the car market seems to continue at least until the end of the year.
Read more about cars: https://www.hamrah-mechanic.com/
Source: Donyaye Khodro
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