World`s Five Largest Automobile Manufacturers Lost $63bn In Market Cap

ive Largest Automobile Manufacturers Lost $63bn

The COVID-19 pandemic has had a severe impact on the global automotive industry, causing supply chain disruptions and factory closures. All of this placed intense pressure on the market already coping with a downshift in global demand. According to data presented by Buy Shares, the market capitalization of the world’s five leading automobile manufacturers plunged by $63bn amid coronavirus crisis, falling from $426.5bn in December 2019 to $363.5bn last week. Volkswagen Group and Toyota Lost $33.1bn in Market Capitalization The world’s largest automobile manufacturer, the Volkswagen Group, managed to reduce the…

Read more