Argentine automotive industry stopped production due to the actual situation https://www.clarin.com/economia/automotrices-parada-produccion-abril_0_2tPCwjb4W.html
Will medium and small companies producing automotive parts, survive to this emergency?
Covid-19 is creating a "perfect storm" on the global economy
Jeronome Ross published in Tribune Magazine https://tribunemag.co.uk/2020/03/the-coming-debt-deluge , referring to the possible sucessive debt defoults that may start to happen along the world: "In a further twist, some of the most heavily indebted sectors with the largest bond payments falling due this year are also the ones most heavily exposed to the economic fallout of the pandemic: international airlines, European carmakers and American shale oil companies"
We already see contries that started printing and injecting money in their local markets to "sustain" their economies. That leads to inflation, wich is finally paid by the common people.
Which is the situation in your countries?
In Austria all carmakers shut down for one week (last week). It seems that at least big producers as Magna Steyr are going to restart at least prototyping production by next week again. Still the usual serial production is going to be closed until at least 13.04.2020. From what I have heard production facilities in China however are already completely "back to normal" in terms of production. However concerns that parts that are coming from Europe may not be delivered are existing. Surely our automotive experts from FHJ can give further details on related consequences for the companies and the industry as a whole. From my perspective I think that there are industries having a worse effect from the Covid19 situation than the automotive branch. Just think about tourism ?
My students recently pointed me towards this brief overview of the effects of the COVID-19 crisis on motor vehicle production in the EU and UK:
I would be interested in knowing what the (estimated) effects are on production figures in Central and South America. Can anyone recommend a source?
I found this source and couldnt believe what i read. 99%? Can this be serious? https://www.reuters.com/article/us-health-coronavirus-latam-autos-idUSKBN22K2VN
And now we are heading into the second lockdown. The COVID-19 cases increases extremly fast so that we in germany have the second lockdown already. Hows the situation in central and south america?
@m-schloesser However, politics decided to leave the producing industry out of the lockdown this time. Lets see how it works when restaurants, leisure activities and travelling within the country is forbidden for a month and industry and schools will be left open. So far, politics has not found a suitable way to control COVID-19 in way to not harm all industry.
@hectorgerardo From my point of view th automotive industry in Argentina according to the article that you shared is in free fall not since the last year this comes from 2 years ago and due to this pandemic I think that the pandemic will be a catalyst for the fall of automotive industry.
Thank you for sharing this forum news.
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