The Third Quarter Financial Report Of 20 International Parts Suppliers: Sales Increased Significantly From The Previous Quarter(I)

The Third Quarter Financial Report Of 20 International Parts Suppliers: Sales Increased Significantly From The Previous Quarter(I)

Date:Dec 19, 2020

In the second quarter of this year, the global pandemic of the new crown epidemic led to widespread blockades, stores were forced to close, and factories were forced to suspend production, resulting in a sharp drop in global light vehicle production, which had a greater impact on the business and cash flow of international auto parts companies , And in the third quarter, the performance of international parts suppliers began to slowly recover.

 

One of the main reasons for the recovery of the performance of various companies is the gradual recovery of sales in major auto markets such as China and the United States. In China, the world's largest auto market, as of September, auto sales have shown growth for six consecutive months, of which the growth rate has remained above 10% for five months. Based on the outstanding performance in September, in the first three quarters of this year, the year-on-year decline in China's auto sales continued to narrow by 2.8 percentage points compared with the previous eight months.


Previous: Timken-A Century-old Shop(I)

Next: Timken Acquires Aurora Bearing Company