Monday, April 6, 2020

Sales plunge

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The seafood industry has been upended by the spread of the coronavirus, which has halted sales in restaurants and sent fishermen and dealers scrambling for new markets. ⁣ ⁣Seafood is a global industry that relies on a complex network of fishermen, processors, buyers and distributors, all of which have been affected by the virus. A lack of demand has sent prices tumbling and led some fishermen to tie up their boats until the outbreak subsides. ⁣ ⁣Members of the U.S. seafood industry are calling on the Trump administration and Congress to help them weather the uncertain time. But for now, the market for big-money items such as scallops and lobster is “pretty much nonexistent,” said Bert Jongerden, general manager of the Portland Fish Exchange, a Maine auction house.

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BMW said on Monday that group sales dropped by 20.6% to 477,111 vehicles in the first quarter as the outbreak of coronavirus took its toll and many retail outlets temporarily closed. ⁣ ⁣BMW said it had seen sales growth at the start of the year but added: "By February, the impact of the pandemic had already led to a significant decrease in sales in China. By March, the effects of the pandemic were clearly visible in sales figures in Europe and the U.S." ⁣ ⁣It said around 80% of retail outlets in Europe and 70% in the United States were temporarily shut due to the pandemic. BMW sales to China, where the outbreak started, were down 30.9% in the January to March period. They dropped by 18.3% in Europe and by 17.4% in the United States.

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