Closing auto factories costs it $ 100 billion at the end of the month

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Source: Dubai – Arabic.net

Expectations that the closing of auto factories in Europe and North America will lead to companies losing more than $ 100 billion in revenue, if the factories remain closed until the end of the month.

Sales losses in Europe may reach 2.6 million cars, amounting to 66 billion euros, while North America will lose sales of about 2 million cars with a value of 52 billion dollars, if these factories remain closed until the end of this month.

Ian Henry, who owns a research firm specializing in the automotive industry, announced these expectations, noting that every additional week that auto factories in Europe close, means a loss of 8 billion euros of revenue, while losses in North America are about 7.5 billion dollars.

Most car companies in the world have not announced when the factories will start opening again. Ian told the Financial Times he did not expect “the factories to return to normal before May.”







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