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Sat, May

Automotive industry, the challenge


After a bleak 2019, which saw a strong decline of more than 5% in global automotive production and ended a 10 years trend of continuous growth, the global automotive industry – among the most important in the world – faces an unprecedented new challenge in 2020.

As Oica’s President, Mr. Fu Binfeng pointed out in a statement, the Covid-19 virus crisis could be the worst crisis that has ever hit the automotive industry. The national associations of the automotive industry, members of Oica – concluded Fu – are engaged in a constructive dialogue with authorities and partners in order to mitigate the impact and ensure a rapid recovery of the sector. Moreover, according to international press reports, Volkswagen, BMW and Daimler have brought a burning problem to Chancellor Angela Merkel’s attention: production cannot restart unless the Italian or Spanish suppliers also restart. The automotive components industry in Italy has over 2,200 companies in its country, with a turnover of 49.3 billion euros and 158,700 direct employees (including subcontractors).


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