COVID-19 lockdowns across the globe have greatly affected the economy. The automotive industry is one of the worst hit as production lines were stopped in order to curb the spread of the virus. Japan, the world’s third largest economy and home to several car manufacturers, is still reeling from the aftermath of the pandemic. But it looks like things are turning out for the better.
According to this Reuters report, vehicle production in the country in November grew by 43.1% compared to the previous month. This number is staggering, considering that there are still threats from the Omicron variant and the continuing global chip shortage. Manufacturers are optimistic that production will continue to rise by a modest 1.6% this December, and by 5% in January of next year.
However, an official from Japan’s Ministry of Economy, Trade and Industry has warned companies about their rather optimistic forecasts. Aside from new virus mutations, chip companies are focused producing more state-of-the-art electronics for computers, smartphones and gaming consoles.
But, if anything, this is a welcome development for the industry on a global scale. Vehicle sales continue to grow especially in our country. And we’re hoping that soon, things will go back to the way they were before the pandemic.