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.8https://www.statista.com/statistics/269872/largest-automobile-markets-worldwide-based-on-new-car-registrations/ 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.9https://www.ft.com/content/b5392370-53b6-11ea-8841-482eed0038b1 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 https://www.weforum.org/agenda/2020/02/coronavirus-china-automotive-industry/ “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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