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The Impact of COVID-19 on Toyota Group Automotive Division and Countermeasures

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

Listed:
  • Jinling Tang

    (Hangzhou NO.4 International High School)

  • Yunzai Wang

    (Shanghai Weiyu High School)

  • Chenyu Zhao

    (The Village School)

Abstract

The new coronavirus outbreak has affected production and sales in the automotive industry. The impact on the production and transport of parts has led to ever-lengthening vehicle production lead times, and with rising international oil prices, the automotive industry is experiencing enormous pressure. Under these circumstances, the Toyota Group in Japan has been able to maintain maximum productivity. This article focuses on the impact on the automotive industry in the context of the epidemic situation. In this article, we look at the financial changes of the Toyota Group, which has been the global leader in car sales for two years in a row. Also this article will analysis why this changes happen and which factors cause it.

Suggested Citation

  • Jinling Tang & Yunzai Wang & Chenyu Zhao, 2022. "The Impact of COVID-19 on Toyota Group Automotive Division and Countermeasures," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 1260-1267, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_140
    DOI: 10.2991/978-94-6463-052-7_140
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