Leading automakers made a pessimistic forecast for 2019February 23, 2019
The main concern is the decline in car sales in China and the rise in commodity prices.
Three automakers – General Motors, Daimler and Toyota, which account for one fifth of the global automotive market, gave a disappointing forecast for the current year. The management of the companies declares that the main problems of the future problems are the sharp fall of the Chinese car market, as well as the trade “war” between the USA and China, which led to a sharp rise in prices for raw materials.
As reported in the representation of GM, in 2018, the company lost $ 1 billion. There are no reasons to improve this year. To prevent monetary losses, Daimler management is preparing to reduce costs.
The American concern Ford, which announced the reorganization of its business in Europe, went down the same path, and also closed the oldest plant in Brazil. Japanese Toyota lowered its profit forecast by 19%. The decline in the automotive market occurs after several years of serious growth, due to a drop in demand for a number of popular models. Not the last word on this issue said the decline in sales of diesel cars. Despite all this, leading automakers are forced to invest in modern projects – electric cars and drones.
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