The impact of the coronavirus is now being measured by more than just the physical toll as the epidemic begins to hammer the Chinese economy, with the first signs it is spreading abroad.
China ships relatively few vehicles abroad, but it exports about $70 billion worth of car parts and accessories globally. South Korea is particularly dependent upon Chinese suppliers, the automakers saying the planned shutdown of its home market plants is “due to disruptions in the supply of parts resulting from the coronavirus outbreak in China.”
About 20% of Chinese auto parts exports wind up in the U.S., though much of that winds up in the automotive aftermarket. The list of Chinese-made automotive goods covers everything from steering wheels to shock absorbers, down to literal nuts and bolts, washers, springs and copper rivets.
Read the article at The Detroit Bureau.
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