Carmakers shut down as coronavirus creates war-like conditions
The sector around the world is in far better shape than it was in 2008 — but the shutdowns this time come after a bad 2019 for manufacturers
19 March 2020 - 11:53
The economic impact of the growing coronavirus outbreak is shifting from service-driven industries such as hotels and restaurants to the manufacturing sector on both sides of the Atlantic, leading to a synchronised shutdown of heavy industry that historians and industry experts say is unlike any seen since the 1940s.
Carmakers in the US and Europe are idling plants in response to the crisis, echoing the industrial shutdown in China that reverberated through global supply chains earlier this year and adding to the case that a global recession may already be under way...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.