![]() ![]() ![]() Many of these changes are largely positive, such as the growth of online traffic and the greater willingness of OEMs to cooperate with partners-automotive and otherwise-to address challenges. It might take years to recover from this plunge in profitability.Īt the operational level, the pandemic has accelerated developments in the automotive industry that began several years ago. We estimate that the top 20 OEMs in the global auto sector will see profits decline by approximately $100 billion in 2020, a roughly six-percentage-point decrease from just two years ago. In fact, many auto-retail stores have remained closed for a month or more. ![]() Globally, the repercussions of the COVID-19 crisis are immense and unprecedented. For instance, the COVID-19 crisis has compelled about 95 percent of all German automotive-related companies to put their workforces on short-term work during the shutdown, a scheme whereby employees are temporarily laid off and receive a substantial amount of their pay through the government. Many of the recent developments raise concern. Over the past few months, we’ve seen the first indicators of this automotive future becoming visible, with the biggest industry changes yet to come. Now with travel deeply curtailed by the pandemic, and in the midst of worldwide factory closures, slumping car sales, and massive layoffs, it’s natural to wonder what the “next normal” for the auto sector will look like. Electric mobility, driverless cars, automated factories, and ridesharing-these are just a few of the major disruptions the auto industry faced even before the COVID-19 crisis. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |