Understanding COVID-19’s impact on the automotive sector
Guidance for automotive executives
The COVID-19 pandemic has had a swift and severe impact on the globally integrated automotive industry. Symptoms include a disruption in Chinese parts exports, large scale manufacturing interruptions across Europe, and the closure of assembly plants in the United States. This is placing intense pressure on an industry already coping with a downshift in global demand, and likely leading to increased merger & acquisition activity.
Topics covered in this article:
- Potential long-term impact scenarios on automotive companies
- Questions executives and boards should be asking
- Practical next steps to take to preserve business continuity