China Lockdowns Take Bite Out Of Global Vehicle Sales

Today, Shanghai is slated to come out of a strict two-month COVID lockdown. China's largest city, Shanghai is home to about 25 million people. The end of lockdown will permit residents to more freely move about the city, where the lockdowns had necessitated some companies to house workers on site to continue operations. The ongoing COVID surge in China, and resulting lockdowns, continue to put pressure on the supply chain and operations of many large automakers. In Shanghai alone, large automakers saw a 75% decline in production during April. 

Earlier in the week, Beijing also lifted work from home restrictions. The impact is being felt in global vehicle sales. China saw a 41% drop in passenger vehicle production in April. Shanghai also recorded zero auto sales in April.