STOCK MARKET BSE NSE

2020 outlook negative for global auto firms: Moody's

The agency said that it forecasts a 0.9 per cent decline in light vehicle sales following a projected 3.8 per cent decline in 2019.

Published: 17th December 2019 06:24 AM  |   Last Updated: 17th December 2019 12:15 PM   |  A+A-

Cars, Automobile, vehicles, manufacturing, auto sector

For representational purposes. (Photo | PTI)

By Express News Service

Global credit rating agency Moody’s Investors Service on Monday said that the outlook for the global automotive sector is negative for the next calendar year: 2020.

In a research report titled ‘Automotive manufacturers and parts suppliers: Global 2020 Outlook,’ the agency said that the negative outlook is driven by its expectation that there would be “a continued decline in global light vehicle sales.”

The agency said that it forecasts a 0.9 per cent decline in light vehicle sales following a projected 3.8 per cent decline in 2019. According to Moody’s, the primary reason for sluggish sales includes global political risks, technological changes and environmental regulation.

“Demand remains constrained by a weakening macroeconomic environment and the continued uncertainty over the UK’s plans to exit the EU,” it said.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp