Credit ratings agency Moody’s Investor Service on Wednesday cut its 2020 outlook for global auto sales, with China taking the biggest hit as the coronavirus outbreak worsens.

The agency said here it expects global auto sales to fall 2.5% in 2020, more than its previous estimate of about 0.9% drop.

Moody’s retained a “negative” outlook on the sector and said it expects global sales to rebound only modestly in 2021 with growth of 1.5%...

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Coronavirus Interruptions Leads Moody's To TRIM Its 2020 Global Auto Sales Outlook

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