Corona is at play and the world seems to be suffering at its hands. Almost all financial, sporting, business and other activities have come to a standstill because of the impacts of COVID-19. While the virus has struck hard all over the world, Europe seems to be hit the most by it. France, Spain, England, Italy and Netherlands are all reeling from it.
The repercussions of COVID-19 include a lockdown across all countries of Europe. What this has meant is that there is little to no financial and business activities happening around.
The impact of the virus was also felt by the French car registration agencies. French Car Manufacturers PSA reported that their car registrations fell by a massive 73.43 percent in March. This is a record fall and is a severe shock to the embittered manufacturers.
PSA is responsible for making cars for the Peugeot and Citroen brands. Additionally Renault also reported a 71.6 percent drop in their registered vehicles. This total drop will harm the economy as consumers have literally altered their spending patterns.
Whether the world ever comes out of the COVID-19 pandemic is yet to be seen, but what we do know is that the French Car industry is suffering damage beyond repair.
YouTube Link: https://www.youtube.com/watch?v=NUBL2IlORFU