Automakers are experiencing a historically difficult time. The coronavirus pandemic has both made it hard to safely manufacture vehicles and dried up demand for new cars. With car companies reeling, it might be time to ask which major brands — if any — are near the sort of cataclysmic event that pushes businesses to extinction.

To do this, GOBankingRates looked at stock prices from major auto manufacturers during three key points in 2020: mid-January before the pandemic had hit, mid-March as the market panic was at its zenith and early July for a more recent measurement.

By looking at how far companies fell in the initial crash and how well they recovered since the market bottomed, the study provides a clearer sense of the manufacturers that remain most vulnerable.

So, here’s a closer look at the companies that were hit the hardest and how coronavirus might be changing the landscape of the auto industry forever.

Last updated: July 23, 2020

Honda Motor Company Ltd.

  • Brands: Acura, Honda
  • Closing stock prices:
    • Jan. 13, 2020: $27.78
    • March 16, 2020: $20.74
    • July 6, 2020: $25.28
  • Change in stock prices:
    • January to March: -25%
    • March to July: -9%
    • January to July: 22%

Reopening and Financial Outlook

Honda continues to make moves geared toward a return to normalcy. It announced in July that it would be discontinuing the two-door Civic coupe, making 2020 its final model year, but that the new 11th generation of the legendary Civic model is on the horizon for 2022.

All told, auto market investors remain relatively sanguine about the Japanese company’s prospects, with stocks rebounding to very near the levels it started 2020 at. But if Honda shows flagging sales in the remainder of its 2020 earnings reports, it could mean things will head south again.

Toyota Motor Corporation

  • Brands: Lexus, Scion, Toyota
  • Closing stock prices:
    • Jan. 13, 2020: $140.04
    • March 16, 2020: $116.46
    • July 6, 2020: $124.97
  • Change in stock prices:
    • January to March: -17%
    • March to July: -11%
    • January to July: 7%

Reopening and Financial Outlook

Toyota has been in the news of late more for Tesla surging ahead of them as the world’s most valuable car company. Whether or not that lasts, Toyota might have trouble reaching nearly 9 million vehicles in sales again in 2020, given that the pandemic is simultaneously hurting sales and forcing factories in America to reduce or temporarily stop production.

BMW Group

  • Brands: BMW, MINI, Rolls Royce
  • Closing stock prices:
    • Jan. 13, 2020: $26.21
    • March 16, 2020: $14.30
    • July 6, 2020: $22.21
  • Change in stock prices:
    • January to March: -45%
    • March to July: -15%
    • January to July: 55%

Reopening and Financial Outlook

The BMW Group saw its value slashed nearly in half from mid-January to mid-March, and it ultimately reported a decline in deliveries year-over-year of over 20%. All things considered, the company appears to be tightening its belt in the short term, and the manufacturer has paused plans to build a large new facility in Hungary.

Volkswagen Group

  • Brands: Audi, Bentley, Lamborghini, Porsche, Volkswagen
  • Closing stock prices:
    • Jan. 13, 2020: $19.89
    • March 16, 2020: $10.68
    • July 6, 2020: $16.68
  • Change in stock prices:
    • January to March: -46%
    • March to July: -16%
    • January to July: 56%

Reopening and Financial Outlook

Like most of the market, Volkswagen’s stock got hammered in the early going of the pandemic but bounced back significantly in the second quarter — and like BMW, Volkswagen saw nearly half its value evaporate in the sell-off in March. The company reported a 23% drop in year-over-year deliveries for the first quarter, and it had to keep factories in Mexico shuttered because of the pandemic.

Daimler AG

  • Brands: Mercedes-Benz, Smart
  • Closing stock prices:
    • Jan. 13, 2020: $51.85
    • March 16, 2020: $23.64
    • July 6, 2020: $41.31
  • Change in stock prices:
    • January to March: -54%
    • March to July: -20%
    • January to July: 75%

Reopening and Financial Outlook

Daimler was already trying to trim budgets before the coronavirus hit, having announced plans to shed 10,000 jobs from its payrolls in November of last year. The company is trying to find space to invest in more electric vehicles, which is putting the squeeze on other segments. Now, Reuters reports that labor representatives at Daimler have said 15,000 jobs could be shed as COVID-19 concerns have necessitated even sharper cost cuts.

Hyundai Motor Company

  • Brands: Genesis, Hyundai, Kia
  • Closing stock prices:
    • Jan. 13, 2020: $28.25
    • March 16, 2020: $17.14
    • July 6, 2020: $22.45
  • Change in stock prices:
    • January to March: -39%
    • March to July: -21%
    • January to July: 31%

Reopening and Financial Outlook

Hyundai is yet another example of how carmakers are being squeezed from both sides of the supply chain. On the demand side, few consumers are making a major purchase like a car in the midst of these uncertain times without serious need. And on the supply side, workers in the company’s supply chain are at risk of contracting the virus. In Hyundai’s case, production of the Palisade — its new SUV — ground to a halt in mid-June because of a parts shortage.

Suzuki Motor Corporation

  • Brands: Suzuki
  • Closing stock prices:
    • Jan. 13, 2020: $182.75
    • March 16, 2020: $92.56
    • July 6, 2020: $137.80
  • Change in stock prices:
    • January to March: -49%
    • March to July: -25%
    • January to July: 49%

Reopening and Financial Outlook

Suzuki, like other automakers, continues to cope with serious supply chain headaches. Not only are its own factory floors confronting much higher costs for labor and sanitation as they grapple with the virus, but the makers of their parts are trying to work their way through the same mess. As such, Suzuki cited the coronavirus as playing a downward pressure on its sales at the start of 2020.

Fiat Chrysler Automobiles

  • Brands: Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Maserati, Ram
  • Closing stock prices:
    • Jan. 13, 2020: $13.75
    • March 16, 2020: $6.35
    • July 6, 2020: $10.11
  • Change in stock prices:
    • January to March: -54%
    • March to July: -26%
    • January to July: 59%

Reopening and Financial Outlook

Fiat Chrysler had to stop production at its Sterling Heights, Michigan, plant due to COVID-19 concerns, and it’s also dealing with flagging sales. The company reported a nearly $2 billion loss for the first quarter of 2020, and revenue was 16% below the level it was at for the same time period last year.

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Subaru Corporation

  • Brands: Subaru
  • Closing stock prices:
    • Jan. 13, 2020: $12.90
    • March 16, 2020: $9.16
    • July 6, 2020: $10.04
  • Change in stock prices:
    • January to March: -29%
    • March to July: -22%
    • January to July: 10%

Reopening and Financial Outlook

There’s clearly no good time for a huge recall, but one coming in the midst of a global pandemic is especially bad timing. Nonetheless, Subaru had to recall nearly 200,000 Impreza sedans and hatchbacks, Outback wagons, Legacy sedans and Ascent SUVs due to a potential stalling risk in late April.

General Motors

  • Brands: Buick, Cadillac, Chevrolet, GMC, Pontiac, Saturn
  • Closing stock prices:
    • Jan. 13, 2020: $35.60
    • March 16, 2020: $18.14
    • July 6, 2020: $24.39
  • Change in stock prices:
    • January to March: -49%
    • March to July: -31%
    • January to July: 34%

Reopening and Financial Outlook

When General Motors reported its sales for the second quarter of 2020, it revealed that they were down by just over a third from the year prior. Meanwhile, the company continues to struggle with production as well, with United Auto Workers officials pushing to close an Arlington factory because of the growing coronavirus risks in Texas.

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Ford Motor Company

  • Brands: Ford, Lincoln, Mercury
  • Closing stock prices:
    • Jan. 13, 2020: $9.16
    • March 16, 2020: $4.33
    • July 6, 2020: $6.10
  • Change in stock prices:
    • January to March: -53%
    • March to July: -33%
    • January to July: 41%

Reopening and Financial Outlook

According to Ford, the company likely would have broken even for the first quarter of 2020 had it not been for the effects of the coronavirus on the economy. As is, the company recorded a loss of some $2 billion.

Mazda Motor Corporation

  • Brands: Mazda
  • Closing stock prices:
    • Jan. 13, 2020: $4.54
    • March 16, 2020: $2.94
    • July 6, 2020: $2.94
  • Change in stock prices:
    • January to March: -35%
    • March to July: -35%
    • January to July: 0%

Reopening and Financial Outlook

The Japanese car company has made no secret of its need to shore up its balance sheet in the midst of the pandemic. The company has requested nearly $3 billion in loans from domestic banks as it works to improve liquidity in the face of slumping sales and long-term demand risks.

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Groupe Renault

  • Brands: Renault
  • Closing stock prices:
    • Jan. 13, 2020: $8.72
    • March 16, 2020: $3.27
    • July 6, 2020: $5.05
  • Change in stock prices:
    • January to March: -63%
    • March to July: -42%
    • January to July: 55%

Reopening and Financial Outlook

Renault took a harder hit to its stock than other automakers at the start of the year, shedding almost two-thirds of its value from mid-January to mid-March. So while it did rebound significantly from that point, the share price remains more than 40% below the level it started the year at.

Mitsubishi Motors Corporation

  • Brands: Mitsubishi
  • Closing stock prices:
    • Jan. 13, 2020: $3.99
    • March 16, 2020: $2.52
    • July 6, 2020: $2.54
  • Change in stock prices:
    • January to March: -37%
    • March to July: -36%
    • March to July: 1%

Reopening and Financial Outlook

Like Mazda, Mitsubishi is also appealing to Japanese banks for an infusion of cash via nearly $3 billion worth of loans. In Mitsubishi’s 2020 fiscal year (which ended on March 31), the company made just over half the profit it had the year prior.

Nissan Motor Co. Ltd.

  • Brands: Nissan, Infiniti
  • Closing stock prices:
    • Jan. 13, 2020: $11.48
    • March 16, 2020: $7.26
    • July 6, 2020: $7.06
  • Change in stock prices:
    • January to March: -37%
    • March to July: -39%
    • January to July: -3%

Reopening and Financial Outlook

Nissan has been going through a brutal 2020, even compared to other automakers. The company had to report a loss of over $6 billion in late May, prompting a raft of closures and firings to help the company regain its footing. The biggest loss in over a decade, Nissan will shutter its Barcelona plant and another in Indonesia as well.

Tata Motors

  • Brands: Jaguar, Land Rover
  • Closing stock prices:
    • Jan. 13, 2020: $13.85
    • March 16, 2020: $4.72
    • July 6, 2020: $7.35
  • Change in stock prices:
    • January to March: -66%
    • March to July: -47%
    • January to July: 56%

Reopening and Financial Outlook

Tata remains worth just over half what it was at the start of 2020 — a crushing blow for investors in the Indian company. The company has responded by cutting over 1,000 temp positions at Jaguar/Land Rover as it continues to grapple with the sweeping changes needed to survive the pandemic.

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Methodology: In light of the COVID-19 pandemic’s massive impact on the auto industry, GOBankingRates looked at 16 major car manufacturers that have been hit hard by the virus to analyze their current position in an uncertain market. GOBankingRates first looked at each company’s weekly stock history from Yahoo! Finance’s historical data to find its (1) closing price the week of Jan. 13, 2020 (just before the effects of coronavirus on the stock market began to be felt); (2) closing price the week of March 16, 2020 (in the midst of the stock market crash); and (3) closing price the week of July 6, 2020 (the most recent complete week at the time of publishing and at the time that confirmed COVID-19 cases in the U.S. were reaching new highs). GOBankingRates was then able to calculate the percent change in each company’s stock value (4) between January and March, (5) January and July and (6) March and July. Companies were then scored on factors No. 4-6 with smaller drops from January-March and January-July and a larger recovery from March-July scored more favorably. Manufacturers were then ranked on their cumulative score, with No. 1 being the company hit hardest and least likely to survive the pandemic. GOBankingRates also took a look at other measures of financial performance. Looking at each company’s most recent quarterly or annual financial report and coverage of plant closures, disputes with workers, production delays and other disruptions to business operations, GOBankingRates provided a more complete picture of the state of the company at this point and the bleak picture moving forward. All data was collected on and up to date as of July 14, 2020.

This article originally appeared on GOBankingRates.com: Car Manufacturers That May Not Survive the Coronavirus Pandemic

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