• İstanbul 14 °C
  • Ankara 10 °C

Moody's: Global auto sales to shrink 14% in 2020

Moody's: Global auto sales to shrink 14% in 2020
As coronavirus impact deepens, global rating agency drops its forecast for automotive sales

By Tuba Sahin

ANKARA (AA) - International rating agency Moody's lowered its auto sales forecast on Friday as the economic fallout from the coronavirus outbreak continues to worsen.

"We now expect global auto unit sales to plunge about 14% in 2020, a far steeper drop than the 2.5% decline we had projected in February, mostly because of a sharp coronavirus-related drop-off in consumer demand," said Falk Frey, a Moody's senior vice president.

The sales are expected to rebound next year, depending on how soon the outbreak peaks in key markets and how quickly consumer sentiment recovers, the Moody's noted.

The agency projected that Western Europe will see the steepest slide in demand with auto unit sales by 21% this year, sharply weaker than its previous forecast of a 4% decline.

Auto sales in China will sink by 10%, Moody's forecast, much lower than the previous projection of a 2.9% drop.


source: News Feed
This news is a total 26 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim