As a result of the Covid-19 pandemic and ensuing recession, LMC Automotive said global vehicle production is now expected to fall more than 20 percent to around 71 million in 2020. That steep fall will likely cost 19 million units in lost production in 2020. Depending on how quickly major regions recover, LMC warned those projections could slip further.
In April, most vehicle production in North America remains shut down. Automakers in the region have been forced to delay introductions or planned ramp-ups of several new vehicles, including the Ford Mustang Mach E, the Tesla Model Y, redesigned versions of Fiat Chrysler’s Jeep Grand Cherokee and General Motors’ full-size SUVs.
Most of the auto plants in China have restarted operation. As the first country hit by coronavirus, the nation expects to see a sales decline of just 12 percent this year.
