The CORONAVIRUS began in Wuhan, a city of 11 million people in early December of 2019. The cases of the virus have also been seen in other cities of China.
The Chinese authorities report of January 25 was that there were already 1,372 confirmed cases in the country and 41 dead. The virus may endanger the automobile industry due to the Chinese travel restriction in the hub of Wuhan in China since the outbreak of the Virus.
The virus may endanger the automobile industry due to the travel restriction. Wuhan is an important hub with factories and plants, many plants in Wuhan belong to Auto and transportation Industries serving as home numerous auto plants supplying the world’s largest market of cars like General Motor (GM), Nissan (NSANF), Renault (RNLSY), Honda (HMC) and Peugeot Owner PSA Group (PUGOY) are among several companies in Wuhan.
Carmakers are struggling with falling sales due to the outbreak of the virus and the disruption of transportation is already causing headaches for business who are losing money on a daily basis. The spending on transportation and entertainment fell by 10%, the overall economy could contract by about 1.2% points, the report added.
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