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Toyota, Mitsubishi meet COVID-19 driven demand drop with slowing supply

Cons. Discr. - Autos 955 Coronavirus 430 Japan 518 U.S. 4635

Global automakers have started to close manufacturing capacity in response to falling demand related to the COVID-19 outbreak. They’d previously struggled with a shortage of parts from suppliers. Toyota and Mitsubishi have already closed capacity, with total exports by the big seven Japanese automakers having already fallen by 5.2% year over year in February. The slide in sales opportunities can be seen in the 49.1% year over year drop in U.S. sales of foreign vehicles in March. Suppliers to the U.S. already appear to be trimming supplies to avoid an excessive build-up of inventories. U....

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