Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

As the COVID-19 and related lockdown in many countries continues to extend, major automakers like Toyota and Hyundai have decided to keep some of their units suspended for a longer duration.


Toyota has extended its production suspension at all plants in Canada, Mexico and the US until May 1. Besides the lockdown, declined demand for vehicles in these regions is also a major reason behind this decision. The company’s service parts operations and logistics centres for finished goods, however, will remain open to cater to customer needs. The company will be taking appropriate measures and safety precautions to follow social distancing.


Hyundai Motor Manufacturing, Alabama has also decided to delay the resumption of production. The plant had earlier planned to restart operations on April 13 but has extended its shutdown till May 4. The company decided to delay re-opening of the plant to safeguard its employees. Hyundai had halted production on March 18 after one of its employees contracted the virus.


Hyundai sold 308,503 units globally in March, down by 20pc from 390,177 units in the year prior. In Jan-March 2020, the company sold 904,746 units, down by 11.4pc as in Jan-March 2019 its sales were 1,021,391 units.

Leave a Reply

Your email address will not be published.