and how the auto industry is fairing amid market turmoil due to the coronavirus we are joined by lauren fix the car coach lauren it is a pleasure to have you wish it was under better circumstances this 79 percent decline is massive and really sales in china had already fallen for 20 straight months do you really expect sales to pick up in the coming months as the world is still very concerned about this virus. right well thank you brant and i think one of the biggest things is that people are back to work in china so they're not on all shifts right now most are on one and 2 shifts the 3rd shift supposed to be coming on line hopefully next week that means people are starting to make money again and they have to make up for that loss why they were sitting at home whether they got paid or not because obviously that kind of gives you uncomfortable nyssa about spending money in your economy are ones who will start getting more open to spending money again i think the car sales will pick up a bit it is rock bottom worst ever had in china with only $310000.00 vehicles sold in the month of february

to an expected 20 percent decline in sales in 2020 for more on this let's bring in the car coach lauren fix was always going to give us expert analysis on this particular subject and many other lauren i want to shortchange here lauren let's start with the downturn in auto sales at this time we have no idea how long this pandemic will last and how long these social distancing controls will go on how bad is this expected hit for the auto industry. for the auto industry on global basis we're looking at a huge impact with every single manufacturer pretty much shutting down production we're not just talking about high end cars but everyday cars we've already seen a huge negative downturn when it comes to china they're off by about 80 percent so far for the 1st quarter but that may change they're starting to get back on line but here in the u.s. we're looking at last year's sales 17100000 cars. is recommending and they're stating they're somewhere around $14900000.00 we have not seen a downturn like this since 2008 this is going to impact a lot of us because if you look at the dow jones half of i

automakers general motors looks to save some cash and avoid layoffs amid the coronavirus pandemic lauren fix the car coach tells us what we could be hit or what could be coming for the auto industry plus amazon workers across the country come forward with stories about working conditions and safety after more positive cases of covert 19 but 1st let's start by talking about. the global death toll still on the rise with more than 25000 people and nearly 555000 back to the united states now lead with the most confirmed cases in the world with more than 86000 infected and nearly 1300 fatalities new hotspots are emerging across the u.s. and chicago detroit and new orleans vice president mike pence downplayed trumps comments over reopening the economy by easter saying the president expressed really an aspirational goal as we continue to follow the data on thursday g. 20 leaders held a virtual meeting where they vowed to work together to combat the virus we talked about the problem. really won't be a problem for. the united states is working with their friends and partners around the world to stop

the supplier stocks i think you're going to start a good time to buy if you've got the cash flow lauren fix the car coach thank you so much for your time today. thank you. and small businesses worldwide have been feeling the pain from the code 19 pandemic and as more and more people practice social distancing the government is also an acting force closures on businesses dealing another blow to the economy so console businesses survive another financial crisis for that we could argue correspondent side editors joins us on said side. thank you so much what's going on here you know this pandemic is hitting every industry and the latest victim is small businesses now we're talking about anywhere from restaurants bars dry cleaning day care services long services i mean you're name it they're being hit and you're seeing signs everywhere force closures due to c.d.c. government mandates so these are all small businesses being really hit but you know small businesses make a significant portion of the u.s. economy in fact service industry accounts for 77 percent of the qana mean so that's huge and he

automaker general motors likes to think them cash and avoid layoffs amanda coronavirus pandemic lauren fix the car coach tells us what we could be good for what could be coming for the auto industry plus the amazon workers across the country come forward.

automaker general motors like that they have them cash and avoid layoffs amid the coronavirus pandemic lauren fix the car coach tells us what we could be good for what could be coming for the auto and 3 plus amazon workers across the country come forward with stories about working conditions and safety after more positive cases of covert 9.

automaker general motors look to save them cash and avoid layoffs amid the coronavirus pandemic lauren fix the car coach tells us what we had to get or what could be coming for the ah.

in the latest episode of artes boom bust automotive expert lauren fix told us the industry will take a long time to recover. for the auto industry on global basis we're looking at a huge impact with every single manufacturer pretty much shutting down production we're not just talking about high end cars but everyday cars we've already seen a huge negative downturn when it comes to china they're off by about 80 percent so far for the 1st quarter but that may change they're starting to get back on line but here in the u.s. we're looking at last year's sales 17100000 cars. is recommending and they're stating they're somewhere around $14900000.00 we have not seen a downturn like this since 2008 this is going to impact a lot of us because if you look at the dow jones half of it is impacted by the auto industry either by a supplier or something that supports the auto industry so this is going to be a huge impact and it's going to go a long time for us to recover. i don't to be to doom and gloom here but we have had gas after gas telling us we are already facing a recession maybe even a dep

automaker general motors looks to save them cash and avoid layoffs amid the coronavirus pandemic lauren fix the car coach tells us what we could be here what could be coming for the auto and flush the amazon workers across the country come forward with stories about working conditions and safety after more.

automakers general motors look to save some cash and avoid layoffs amid the coronavirus pandemic lauren fix the car coach tells us what we could be or what could be coming for the auto industry plus the amazon workers across the country come forward with stories about working conditions and faith after more positive cases of covert 19 but 1st let's start by talking about. a global death toll still on the rise with more than 25000 people and nearly 555000 back to the united states now leads with the most confirmed cases in the world with more than 86000 in fact and nearly 1300 fatalities new hotspots are emerging across the u.s. and chicago detroit and new orleans vice president mike pence downplayed terms comments over reopening the economy by easter saying the president expressed really an aspirational goal as we continue to follow the data on thursday g. 20 leaders held a virtual meeting where they vowed to work together to combat the virus we talked about the problem. really won't be a problem for too much longer the united states is working with our friends and partners around the world

production for more on the auto sector and parts of spacing due to the coronavirus we are joined by lauren fix the car coach lauren another market sector that's been hitting hard since the coronavirus started right before it started it was actually doing pretty well but what do you make of the move g.m. is making to cut pay will that be enough to help keep the company afloat. well i think you have to start cutting costs someplace you've got nothing being produced right now and so you have no income coming into the need past due accounts receivable so i think this case you're looking at a lot of companies that are really hurting and this is not the time for that when last year sales were 17100000 cutting salaries executives not taking any pay will help a little bit is going to help a lot that they need to start getting back to work well president trump took to twitter to to address this and he said that general general motors must immediately open their plants and to start making ventilators adding that with g.m. things never seem to work out he want to make the ventilator is now and that the n

automaker general motors look to face them cash and avoid layoffs amid the coronavirus pandemic lauren fix the car coach tells us what we could be there or what could be coming for the auto industry plus the amazon workers across the country come forward.

sure that he knows that going forward we're going to work together and get it done and get it fixed. laurens. you say this is perhaps laying the foundation of a recession. do you expect the banks to meet with the president today and say okay, we're going to allow small businesses that are suffering because of the coronavirus or people that can't make their mortgage payment or their credit card payment, we're going to defer some of those payments? what exactly can the banks do to fix this? >> well, the banks will defer payments. typically, they don't have a lot of small loans out there. they're no not lending to the sl business. they're forcing the small business to go to higher rate lenders. it's a challenge as a small business to borrow money directly from the banks. they don't like working at these very short margins on risk. so they're usually buying the loans back from a higher rate lender and i think that's another issue the banks are overleveraged as well. lauren: finally, i have 10 seconds here. we were expected to see the biden bounce, he did well in the michigan primary and others

stuart: so i'm here fix this thing, and lauren is on camera tapdancing away, extending her hit so i amdid? stuart: go ahead. ashley: like a nascar pit stop. the tech crew came out. stuart: okay, okay, okay. enough of this. all right. we've got something very interesting coming up. bachelor nation isn't taking any chances amid the virus fear. instead of handing out roses, they are handing out forms. we will explain that one. >>> did you see this? joe biden getting into a heated argument with an auto worker over the second amendment. just watch this, please. [ inaudible ]. stuart: it actually got worse. trump national press secretary kayleigh mcenany joins me to react. more "varney & company" after this. ♪ there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welco

lauren: you're not calling for a bottom but you are banking on a rebound. the wall street journal editorial board says no amount of money thrown at trying to fix this situatione loss of this magnitude with people out of work, with industries shut down. so as we're seeing central banks around the world act, it's just not the medicine the market needs right now, or is it? >> the medicine the market needs right now is a vaccine ultimately and that's the unfortunate case. it's this lack of control which is making people so anxious. we can control the monetary policy, we can control fiscal policy, what we can't control is the spread of virus very easily. part of this is out of our hands. we can do everything we can to try to reduce it and head in the right direction but we don't have control over the turning point and that's what's making the market so anxious. all of this monetary action is intended to stabilize markets and ease credit conditions as much as possible and so far it's been successful regardless of what we've seen in equity markets. the action is to try to keep businesses afloat and reduce unemployment from rising as much as possible. we are going t