Europe's auto industry suffers huge loss as Coronavirus spreads

03/13/2020

Posted by: Chris Odogwu

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Europe's auto industry is currently in turmoil over the Coronavirus outbreak. Auto factories are closing up and cutting down production output drastically!

The auto industry in Europe has been greatly hit by the Coronavirus due to a drastic fall in the demand for their products as people are more concerned about surviving the pandemic. Initially, it seemed as though automakers could find a way to handle the situation. But on Wednesday, March 11, major auto businesses shut down their factories and reduced production output as it became clear that the disease was gaining momentum.

man-fumigating-auto-factory

The demand for vehicles has been subdued by casualties arising from the coronavirus outbreak

A popular automaker in the region Fiat Chrysler announced its plans to stop operational activities in some of its factories in Italy for the time being and cut down on production as a way of walking through the troubled times caused by the outbreak. In addition to these, the manufacturer is playing its part in containing the virus by carrying out a thorough cleaning of its work areas to prevent the virus from spreading in its environment.

>>> A major international car show has been postponed due to the coronavirus outbreak! New York Auto Show postponed to August due to Coronavirus

Producers of vehicle parts are not exempted from the shutdown. Pirelli – an Italian tire brand has also stated that it is suspending production in the coming days in its factory located in Settimo Torinese Italy, especially as one of its workers has been confirmed to have the virus.

Heavyweight car brands Peugeot and Jaguar Land Rover are also feeling the heat. They are making efforts to contain the spread of the virus among their employees by making tough decisions in their operations.

The Spanish brand of Volkswagen Seat announced the possibility of asking its workers to stay away from its factory in Barcelona due to supply challenges.

Italy has the highest casualty from the Coronavirus after the originating country, China. Experts predict that the country’s economy, which is the third-largest in Europe, could suffer a 15% loss due to the coronavirus.

>>> Check out latest auto news on Naijauto.com for more updates!

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Chris Odogwu

Chris Odogwu

Car events

Chris Odogwu is a Content Writer and Journalist. He holds a bachelor's degree in Mass Communication from University of Jos and a master's degree in Mass Communication from University of Lagos. His works have been published in top local and international publications including Forbes, HuffPost, ThriveGlobal, TheNextScoop and Nigeria360 among others. A member of the Nigerian Institute of Public Relations (NIPR), the thrill he gets from writing about exotic cars feels almost the same as riding in them.

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