U.S. auto sales pandemic recovery continues as Toyota decline slows

DETROIT — U.S. new car sales in July continued to show signs of restoration from the COVID-19 pandemic, as Toyota on Monday posted its lowest sales decrease considering the fact that the virus outbreak slammed the sector in mid-March.

The Japanese automaker stated its sales in July fell 19% vs . the exact thirty day period in 2019, to 169,484 models. That was Toyota’s best thirty day period considering the fact that ahead of the pandemic shuttered North American output for two months and led to shut showrooms throughout quite a few U.S. states.

The rebound in U.S. car sales

Read More Read More

Thai sales fall 33% in June | Automotive Industry News

Thailand’s new vehicle industry fell by close to 33% to 58,013 units in June 2020 from sturdy year earlier gross sales of 86,048 units, in accordance to wholesale information compiled by the Federation of Thai Industries (FTI).

This followed even sharper declines in the past two months, as significant sections of the financial system were being below lockdown to assist manage the spread of the COVID-19 pandemic.

While the Thai federal government commenced to simplicity organization and social restrictions in early May well, key sectors of the financial system remained below force, notably all those dependent on journey and tourism,

Read More Read More

Veoneer posts Q2 net sales down 62% to US$184m | Automotive Industry News

Veoneer has reported second-quarter web income down 62% to US$184m.

Active Security web income of US$79m declined fifty seven% together with an Natural Profits decrease of fifty six%

“The second quarter was really unusual,” reported Veoneer president and CEO, Jan Carlson. “Light vehicle output declined by around 45%, the worst decrease in recorded history. The many complexities in phrases of regional discrepancies, global offer chains, limited delivery notices and quite a few other things, produced it a really challenging ecosystem for jogging productive and effective functions.

“The health of our staff members remained a continued target, not the very least

Read More Read More

Continental burns cash as Q2 sales slump nearly 40%

BERLIN — Continental endured a nearly forty p.c 12 months-on-12 months decline in team revenue all through the next quarter, causing the German supplier to burn off cash and forcing it to refrain from delivering an outlook for the 12 months.

Consolidated team revenue declined by 39.8 p.c to 6.62 billion euros ($7.6 billion), the organization stated Monday as it documented some benefits early. Running margin was minus 9.6 p.c and documented free of charge cash move was a destructive 1.78 billion euros ($2 billion.)

The automotive sector, spearhead of Germany’s export-pushed financial system, has been hammered by the coronavirus

Read More Read More

Sales recovering but outlook still grim – the week | Automotive Industry Comment

The worlds light vehicle market is forecast by just-auto parent company GlobalData to decline by 17.2% to 73.6m units in 2020, due to the impact of the COVID-19 pandemic and its associated economic fallout

The world’s mild car or truck sector is forecast by just-auto guardian firm GlobalData to decline by 17.2% to 73.6m units in 2020, because of to the impact of the COVID-19 pandemic and its connected economic fallout

Unsurprisingly, the COVID-19 pandemic, which is displaying troubling indicators of a resurgence in a lot of nations next the soothing of lockdown constraints, carries on to impact new car or truck product sales. Case in issue – the US wherever a lot of states and regions have just lately reimposed stricter lockdown rules once again right after a resurgence of new infections. Our

Read More Read More