This virus negatively affects many aspects of our lives from education, travel, but also the automotive industry. Together with Yüce Yazılım, we would focus on this very issue.
Moody's Investor Service is lowering its global vehicle sales forecast due to coronavirus outbreaks, reducing demand and disrupting automotive supply chains. Its revised forecast includes global car sales, which will fall by 2.5% in 2020 from the previously expected 0.9%.
Almost since it emerged that a dangerous new virus was spreading in the Chinese city of Wuhan, the automotive industry found itself in Ground Zero. Many car manufacturers operating in or near the city - including foreign manufacturers Nissan, Kia, Peugeot and Honda and Chinese domestics like Dongfeng - have been forced to stop production. Manufacturers in other parts of the country, including the Chinese automobile center in Shanghai, soon felt the impact.
The wider impact on China, which mandated quarantines and took further steps to curb the epidemic, results from the Chinese passenger car association in a 92% decline in car sales in the first half of February. Despite prudent forecasts in this sector, the continued spread of the disease leaves a lot of skepticism, not only in China. Car manufacturers around the world are beginning to feel this situation.
However, Dunne and other analysts warn that many factories are still running slowly and may face new constraints if the epidemic worsens. Also, Nissan has its Chinese headquarters in Wuhan. This complicates many other situations faced by Japan's second-largest automaker, whose shares fell 30 percent this month. Several other manufacturers, in particular General Motors and Volkswagen, have become dependent on sales and revenue from what has become the largest new vehicle market in the world.
China is not a major exporter of fully assembled vehicles but plays an important role in the worldwide network of spare parts and components. Hyundai, heavily dependent on Chinese suppliers, was forced to run some of its domestic plants this month due to shortcomings. Now that coronavirus is spreading rapidly in this country, this effect is expected to multiply.
The situation is not only critical in Asia but is also beginning to emerge in Europe. Fiat Chrysler says the impact of the coronavirus epidemic could stop production in one of its European automakers in four weeks. Fiat said supply chain problems could stop factory production in two to four weeks, but did not change the facility. Nissan, General Motors, Honda, Renault, and Peugeot-PSA are among the companies with major facilities in Hubei Province and Wuhan, which has been blocked since January.
Besides, the 90th Geneva Motor Show, which was scheduled to take place from 5 to 15 March 2020, will not take place. It is the coronavirus. The Swiss government has currently banned any public gatherings of over 1,000 people as a measure against the spread of coronavirus. The premieres of some cars planned for the show will take place online. The Geneva Motor Show is one of the most important events of the automobile year. This year, the 90th year takes place.
Be prepared to face the following challenge together with Yüce Yazılım. Don't panic, be safe and healthy while following the healthy measures that are recommended by doctors.