All Press Releases for March 01, 2020

The Coronavirus Effect: How it's Impacting Automotive Industries Around the World

Automobile, travel and transport industries at-large have taken a hit in recent weeks around the world.

While automotive industries across the world may be at a halt with production, local car buying and selling services like continues to work in Dubai to serve the community.

    DUBAI, UAE, March 01, 2020 /24-7PressRelease/ -- Since the first Coronavirus case in mid-January, people across the world have been glued to their laptops and television screens. A deadly and unusual virus outbreak that's been the cause of death to more than 1,000 people, doctors and scientists are working towards finding a vaccine to contain and eliminate it––which the World Health Organization has recently announced an 18-month deadline for. The contagious and deadly nature of the virus has not only impacted the lives and health of people directly affected by the virus, but has also impacted the supply chains for business and production within major global companies.

Automobile, travel and transport industries at-large have taken a hit in recent weeks. In China, where the Coronavirus is most densely concentrated and accounts for 99 percent of people infected, auto plants and factories run by Nissan, Ford Motor and Tesla have shut down more recently. The ripple effect caused by shortages of parts has led to the announcement of Nissan's Kyushu, Japan plant being shut down due to supply shortages of parts from China. Following the Japanese company's lead, Hyundai also released a statement that it would be temporarily halting production lines at its factory in South Korea due to a shortage of parts from China. Both Volkswagen and Fiat Chrysler announced that the stall of auto parts from China may also impact supply chains and production within their respective factories.

Naturally, the global travel industry has also been influenced by the spreading virus that, as of now, shows no sign of slowing down its economic impact. Major airlines such as Delta, United, and American have all canceled flights to China. As each of these airlines makes only a small percentage of income from flights to China, experts and analysts predict it will have a minuscule impact on profits. In the US, where there were recently 127 weekly flights between China, flights have been suspended to seven per week. Shipping companies, too, have been forced to make decisions in the best interest of their employees. FedEx and UPS, for example, have answered the concerns of pilots by giving crew members the option to choose whether or not they want to fly to China.

In line with a growing number of countries canceling flights to China, the UAE has suspended all flights as well––with the exclusion of Beijing––since February 5th. Thus far, the country has eight recorded cases of the Coronavirus, with one person being in intensive care. With an estimated 90 million passengers traveling annually through the DXB Airport alone, making it one of the busiest airports in the world, there still remains a reason for UAE residents to be cautious with sanitation and taking immediate action when sick. While automotive and car buying and selling services strives across the world may be at a halt with production, local in Dubai, such as Cash Your Car UAE continue to work overtime to serve the community and provide an outlet for ex-pats and locals who are making the decision to sell their car or buy a second hand.visit

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