April Sales Results and International AdjustmentsBy Alejandro Enríquez | Thu, 05/07/2020 - 14:42
May begins with last month's sales results. In Mexico, sales dropped by 64.5 percent compared to April 2019 and 60.1 percent compared to last month. AMDA had forecasted a monthly fall of above 90 percent, so results were better than expected, although they hit a historic low with just 34,903 units sold.
As for how the value chain is regrouping to battle COVID-19, ride-hailing companies Uber, Cabify and Didi have created different initiatives to reward health staff, as well as to support partner drivers and keep users safe.
In international roads, while global players like BMW and DuPoint continue to adjust their margins and forecasts for 2Q20, Volkswagen sees a sharp demand increase in China, led by former public transportation users.
Ready to hit the road, here is your weekly news roundup?
- Auto Sales Drop to Historic Lows in April. According to INEGI, car sales dropped by 60.1. percent compared to March with just 34, 903 units sold.
- Ride-Hailing Support Efforts in COVID-19. Uber, Didi and Cabify Mexico created strategies to support drivers, health staff and users in the pandemic.
- Transforming Cities After Lockdown: More Bikes, Less Cars. The pandemic has reduced the numbers of vehicles used. Will this measure prevail?
- How Webinars Have Kept the Automotive Industry Active. The industry has embraced digital communications to get ready to resume operations.
- Volkswagen sees demand recovery in China. After lockdown users are preferring to buy a car rather than public transportation.
- DuPont sees a complicated 2Q20 as demand in the US continues to drop. DuPont's stock has lost 30 percent this year.
- BMW adjusts margins due to COVID-19. The German automaker expects earnings before taxes will be reduced between zero and three percent in 2020.
- UK new car sales fell sharply by 97 percent in April. Only 4,321 new vehicles were registered. Annual forecast is the lowest in three decades.