Geneva Auto Show CancelledBy Alejandro Enríquez | Fri, 02/28/2020 - 10:24
COVID-19 effects have been felt throughout the supply chain in the previous weeks but with the cancellation of the Geneva Motor Show, it has now affected car launches, too. According to Moody’s, this will contribute to a greater sales drop of 2.5 percent at the global level in 2020.
Mexico has shown strength by becoming the second-largest vehicle supplier to the US and beating records on FDI for vehicle production. Meanwhile, at the global level, Ford’s incoming COO has set cost cuts as a priority. On the other side of the Atlantic, the UK’s auto industry is urging its government to secure a free-trade deal with the EU.
Here is our weekly news roundup!
- FDI beats record on vehicle production. BMW, Toyota and Nissan are the companies who invested the most.
- Audi’s Q3 second generation 2020 will land in March.
- The new Corvette will be here in April.
- Mercedes-Benz GLB, a compact with extra space
- Moody’s cuts global auto sales outlook due to COVID-19. Sales are expected to drop by 2.5 percent in 2020.
- Geneva Motor Show was cancelled due to COVID-19 after the Swiss government implemented stricter health measures.
- BMW goes further towards electrification, according to BMW’s Product Manager Andreas Aumann.
- Hyundai Motor Co. is ready to decide the location of a new hydrogen fuel-cell system factory this year. It could be overseas.
- Panasonic will exit solar production at Tesla’s New York plant. Both companies will continue with their joint venture on battery production.
OEMs at the Global Level
- James Bond’s brand remains in trouble as it announced the departure of its CFO in April after a year of ballooned losses.
- Brexit might not have been the best option for the UK’s car industry as it is calling the government to secure a free-trade deal with Europe.
- Ford’s incoming COO will make efficient vehicle launches and cost cuts as a priority.