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April's Topic of World Manufacturing: Work Resumption
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2020-05-04
In the wake of the pandemic, the first-quarter GDP reported by China declined 6.8% over the previous period. This is the first negative growth for China and indicates a weakening export with reduced purchase orders and demand as a result of the pandemic. As China is en route to work resumption and the epidemic in the U.S. and Europe shows signs to reach a peak, the export decline shouldn't last too long. The crux is when the purchase orders will be relaunched.
China's Ministry and Information Technology states that sizable corporations in China have currently resumed production. Over 95% of them have resumed work as of April 12. Particularly Hubei Province which was the epicenter of the epidemic has reached 98.2%. Work resumption is evident in the Chinese automotive market. After putting its Shanghai plant back on line, Tesla saw the number of its new registered cars produced in China rise to 11,280 vehicles, up 5 times over the number in February. It means Tesla has picked up speed in China. The number proves that the pandemic-stricken automotive demand is ramping up in China.
Besides China, work resumption has emerged in the global automotive market near the end of April, and it emerged earlier in Europe than in North America. In Europe where the epidemic is under control, Volkswagen, Daimler, FCA, BMW, Renault, Hyundai, Volvo among other brands have drawn up a clear resumption plan.
In India, the main export market is taking a hit from the epidemic. The overall export volume is expected to take a 13% to 32% plunge. Federation of Indian Export Organizations indicates that the Indian fastener industry has to bear the loss of 50% cancelled orders. Punjab, Rajasthan and Maharashtra States expressed to the government that they wanted the manufacturing industry to relaunch. The Indian government is planning to allow exporters return to work to alleviate the COVID impact on the economy.
In Japan, work resumption is restrained by the epidemic due to reduced demand. Toyota is planning to stop domestic production on May 11. Besides, Hyundai has stopped factory production in North America and chosen to increase production in South Korea and then ship to the U.S.
China's Ministry and Information Technology states that sizable corporations in China have currently resumed production. Over 95% of them have resumed work as of April 12. Particularly Hubei Province which was the epicenter of the epidemic has reached 98.2%. Work resumption is evident in the Chinese automotive market. After putting its Shanghai plant back on line, Tesla saw the number of its new registered cars produced in China rise to 11,280 vehicles, up 5 times over the number in February. It means Tesla has picked up speed in China. The number proves that the pandemic-stricken automotive demand is ramping up in China.
Besides China, work resumption has emerged in the global automotive market near the end of April, and it emerged earlier in Europe than in North America. In Europe where the epidemic is under control, Volkswagen, Daimler, FCA, BMW, Renault, Hyundai, Volvo among other brands have drawn up a clear resumption plan.
In India, the main export market is taking a hit from the epidemic. The overall export volume is expected to take a 13% to 32% plunge. Federation of Indian Export Organizations indicates that the Indian fastener industry has to bear the loss of 50% cancelled orders. Punjab, Rajasthan and Maharashtra States expressed to the government that they wanted the manufacturing industry to relaunch. The Indian government is planning to allow exporters return to work to alleviate the COVID impact on the economy.
In Japan, work resumption is restrained by the epidemic due to reduced demand. Toyota is planning to stop domestic production on May 11. Besides, Hyundai has stopped factory production in North America and chosen to increase production in South Korea and then ship to the U.S.
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car manufacturers work resumption
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