Description: In the early part of this Corona virus pandemic, car sales tumbled: No surprise. But then came a different sort of surprise, and the year ended with good news for the auto makers. Despite a 75% crash in the early days of the shutdown, car markets did very well for the year as a whole. One brand even recorded higher sales than in 2019.
Date: January 20 2021
1) Do you know anyone who purchased a car during this past year? What factors influenced the decision?
2) What do you find the most surprising about this article?
3) In Wiley’s Understanding Financial Accounting, page 317 tells us about Magna International, an auto parts manufacturer with the second highest revenues among Canadian companies. Do some research to see how Magna’s revenues fared in 2020.