Global automakers have lost $ 250 billion due to the pandemic

News

Global automakers have lost $ 250 billion due to the pandemic

02.09.2020 News

Global automakers lost about $ 250 billion in the first half of this year due to the coronavirus pandemic.

It is noted that Toyota Motor Corp. and Volkswagen AG – the world’s two largest automakers in terms of sales – suffered the largest significant revenue losses in the first half.

“Japan’s Toyota lost $ 35.45 billion, and Volkswagen’s revenue in six months was $ 34.17 billion lower than in the same period last year. The losses of the French Renault SA amounted to 11.35 billion dollars in revenue, and the company’s net loss showed a record 8.63 billion dollars, “- said in the statement.

American automakers have also suffered from the pandemic.

“Ford Motor Co., General Motors Co. and Fiat Chrysler Automobiles NV together lost $ 69.3 billion in revenue in the first half, with Ford accounting for the largest losses. At the same time, the revenue of Tesla Inc. has increased by more than one billion dollars, ” – the statement said.

The press service noted that, despite the unprecedented difficult situation in the first half of the year, carmakers are optimistic about the forecasts for the second half of the year.

For example, the Japanese Toyota expects that the global car market will reach 2019 by the end of 2020 or in the first half of next year.

“A positive signal for most automakers is the dynamics of the Chinese market, where in July sales of passenger cars increased by 8.5% year on year,” – said in a statement.

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