Unsurprisingly, the global auto industry is reeling from the effects of Coronavirus across all stages of their supply chain – from factories to dealerships. Social distancing guidelines have shut down showrooms across more than half of the country, cutting March auto sales by 40-50% YoY. Inventories are likely to surge and vehicle process could be set to plunge in coming months. Though things are expected to get worse, automakers are trying their best to offset losses with e-commerce, dealership appointments, and house calls.
Related ETFs: First Trust NASDAQ Global Auto Index Fund (CARZ)
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