The rapid spread of the coronavirus is having a devastating impact on all business sectors and is throwing the economic outlook into uncertainty. Arguably, no other manufacturing sector has been impacted more than auto manufacturers and their suppliers.
Automakers are seeing their revenue and profitability nearly disappearing overnight as potential buyers are stuck in lockdown and shun spending large amounts of cash.
And car manufacturers are also bearing the financial burden of supporting tens of thousands of furloughed employees.
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