Infographic: Passenger Car Sales Fall Amid COVID-19 Crisis By Felix Richter
01/27/21 AT 12:58 AM
As the coronavirus crisis unfolded, spreading from China to the rest of the world in the early months of 2020, things went from bad to worse for the global car industry. What started off as a supply crisis, which temporarily constrained access to parts and raw materials sourced from China, turned into a full-fledged demand shock that saw sales tumble in the face of mass unemployment and financial uncertainty.
As the following chart shows, the world s largest automobile markets suffered significant sales declines in 2020, with the Chinese market furthest along on the road to recovery. According to the China Association of Automobile Manufacturers (CAAM), vehicle sales rose for the ninth consecutive month in December, limiting the overall decline for 2020 to -6 percent. Meanwhile, light-vehicle sales dropped 15 percent in the United States, while the EU suffered a 24-percent drop
Home Global chip shortage puts car supply chain under the microscope
Global chip shortage puts car supply chain under the microscope
Severe shortage of key supplies risks becoming recurring crisis for motor industry
World Economy News
26 Jan 2021 • 5 min read
China’s car market staged a dazzling recovery in the second half of last year, but it has come at a heavy price.
The rebound has left companies including Volkswagen, General Motors and Honda facing a shortage in chips as a lockdown-driven boom in games consoles, laptops and televisions sends demand for semiconductors soaring and threatens to overwhelm chipmakers.
Fiat Chrysler was one of more than a dozen carmakers forced to idle plants this year as contract chipmakers in Taiwan and China were caught off guard by the multipronged surge in demand.
China s automobile market has become one of the bright spots in the global automobile market in 2020. AFP/File
China s car production and sales respectively reached 2.84 million units and 2.83m units in December of 2020, and also increased 5.7 per cent and 6.4pc from a year earlier, according to the
National Business Daily, citing the China Association of Automobile Manufacturers on Thursday.
The production and sales of passenger cars respectively reached 2.33m and 2.38m units in December, jumping 6.5pc and 7.2pc year-on-year, while the respective figures for commercial vehicles were 509,000 units and 456,000 units, up 2.3pc and 2.4pc year-on-year, respectively.
The above figures mark the ninth consecutive month that China s automobile production and sales have achieved positive growth, said the
China s car production, sales surge in Dec 2020 By Zhang Jie | chinadaily.com.cn | Updated: 2021-01-21 14:04 Share Geely employees work on an assembly line in Linhai, Zhejiang province. [Photo/Xinhua]
China s car production and sales respectively reached 2.84 million units and 2.83 million units in December of 2020, and also increased 5.7 percent and 6.4 percent from a year earlier, according to the National Business Daily, citing the China Association of Automobile Manufacturers.
The production and sales of passenger cars respectively reached 2.33 million and 2.38 million units in December, jumping 6.5 percent and 7.2 percent year-on-year, while the respective figures for commercial vehicles were 509,000 units and 456,000 units, up 2.3 percent and 2.4 percent year-on-year, respectively.
BBC News
Published
Audi is teaming up with China s oldest carmaker FAW to produce luxury electric vehicles.
FAW is China s third largest carmaker, and counts Hongqi - or Red Flag - limousines for China s communist party leaders among its products.
It has been trying to gain ground in the world s largest electric car market against domestic competitors like Geely and SAIC.
The new joint-venture factory will build fully-electric Audi models.
The $4.6bn facility is set to open in 2024 in Chungchun in China s Northeast, according to Audi. This deepened partnership between Audi and FAW heralds a new era of electrification as the next golden decade for Audi on the important Chinese market, said President of Audi China Werner Eichhorn, in a press release.