Daimler Ramps Up Production in China as Factories Come Back Online
March 25 2020 - 5:48AM
Dow Jones News
By Jessica Sier
Daimler AG is ramping up production at its plants in China and
expects a pickup in Chinese consumer demand as the world's second
largest economy comes back online following its coronavirus
shutdown.
"Most of our dealers have opened again, customers are
returning," a Daimler spokeswoman told Dow Jones Newswires. "Every
day more people come to the dealerships. Demand is increasing, and
that makes us feel optimistic."
Following the coronavirus outbreak there, China imposed strict
measures to contain the spread of infections during the country's
New Year celebration at the end of January.
As factories and plants throughout China's manufacturing regions
suspended work, auto manufacturers around the world struggled to
source parts and have since closed their European plants, partly
due to supply shortages.
But since Chinese authorities have begun lifting restrictions on
production facilities, and global central banks are injecting
liquidity in capital markets, automakers such as Daimler are
cautiously ramping up production again.
"We are ramping up our production activities there in a
controlled manner," Daimler's spokeswoman said. China is five to
six weeks ahead of the rest of the world, she said.
Write to Jessica Sier at jessica.sier@wsj.com
(END) Dow Jones Newswires
March 25, 2020 05:33 ET (09:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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