By now, you should know that the coronavirus pandemic is wreaking havoc in different industries, most importantly the automotive industry. Ferrari already announced the delay of four new model launches, while Hertz, one of the biggest car rental companies in the United States, is reportedly in talks with creditors on how to avoid bankruptcy.
Apparently, Hertz isn’t the only one that’s on the lookout for a loan in order to cope with the adverse effects of the novel coronavirus pandemic.
Mazda is seeking to loan 300 billion yen ($2.8 billion) in total from Japan’s three giant banks and other loan providers, according to report by Reuters. The information came from Reuters’ sources who have direct knowledge of the matter.
Just like other automakers in the past month or two, Mazda has halted the production of its cars because of the pandemic. To begin with, the Japanese marque’s car sales have been weak even before the coronavirus hit.