Global Passenger Car Sales to Plunge by $440B in 2020, Entire Market to Drop by 10% in 2021

Global Passenger Car Sales to Plunge by $440B in 2020, Entire Market to Drop by 10% in 2021
The COVID-19 pandemic hit the automotive industry hard, causing supply chain disruptions, factory closures, and huge sales and revenue drops. According to data presented by StockApps.com, global passenger car sales is expected to plunge by $440bn in 2020 due to the coronavirus outbreak. The downsizing trend is set to continue next year, with revenues falling by 10% YoY in 2021. Revenues to Continue Falling in the Next Two Years Even before the pandemic, the car industry was already c...

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