Special Report

Coronavirus coverage: China shutdown derails automotive industry

  • Multi Asset
  • Multi Sector
  • Europe

This is the third article in Third Bridge Forum's series delving into the global ramifications of the catastrophic coronavirus – to which, seemingly, no industry is immune.

The automotive industry has been among the hardest hit by coronavirus as the shutdown in China — and now in several other countries — disrupts global supply chains.8 China is the largest car market in the world, both in terms of supply and demand, and about 80% of global car production involves parts from this powerhouse.9 Hubei province, of which Wuhan — where the virus originated — is the capital, was ranked as the fourth-largest car producer in China in 2019.10 “Hubei is not only a supply base for auto parts in China but also for the global auto industry as a whole,” a specialist told Third Bridge Forum. “Therefore, I think the epidemic actually has the most significant effect on the whole industry chain.” 

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