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On Monday, Japanese car manufacturers reported a 38% decline in their global sales last month. Most car factories and dealerships remained closed due to the coronavirus outbreak.
Japan’s biggest car manufacturer Toyota Motor Corp. (7203.T) just sold 609,460 vehicles last month. Nissan Motor Co’s (7201.T) sales fell by 37.3% or 272,873 units while Honda Motor Co’s (7267.T) sales were down by 29% to 327,000 units.
Most car manufacturers were getting ready for a big financial hit from the pandemic due to the lockdowns in the United States and Europe. Toyota said that it expects an 80% profit slump this year, its lowest in nine years.
A lot of countries have been easing their lockdown restrictions, but some experts from the automotive industry said that it would take up to five years for the global car demand to recover to 2019 levels.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
KYC Policy