Coronavirus Causes Production Hiatus
Feb. 4, 2020—Fears that the coronavirus will take a toll on the global supply chains rooted in China are spreading as fast as the deadly disease, and it's started to have an effect on China's automakers, according to Bloomberg.
Toyota has suspended production of cars in China until at least this Sunday, according to the report. Tesla has also been told to halt production at its Shanghai factory, which caused Hyundai to also halt production on its Palisade sport-utility vehicle in South Korea due to the disruption in auto parts.
And according to Goldman Sachs Inc., if production stops for two weeks in China's six major regions, output will drop around eight percent this quarter.