Global Motor Vehicle Outlook 2020
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Unlike during the last global economic recession in 2009, motor vehicle production is expected to decline in almost every country in the world:
- Historic production declines during the first half of the year stemmed mostly from temporary plant closures in March and April across every region, which took the majority of global production capacity offline during those months.
- Even after vehicle plants began to reopen in May, capacity utilization was reduced due to rising dealer inventories, reduced global demand, and new safety procedures that required reconfiguration of existing operations.
Although consumer income loss, market uncertainty, and supply chain issues may continue to suppress sales in some countries into the second half of the year, most areas are expected to see rebounds in both production and sales as shutdowns are eased and dealership inventories are cleared.
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