Impact of COVID-19 on the Global Automotive and Transportation Market and Outlook 2020-2021

Impact of COVID-19 on the Automotive and Transportation Market Outlook

The COVID-19 outbreak has revealed multiple challenges for the automotive sector. Globally, governments have been preparing for a broader spread of the virus. About 80% of automotive and related companies report that Coronavirus will have a direct impact on their 2021 revenues.

78% of the companies do not have enough staff to run a full production line. More than 80% of the world’s auto supply chain is connected to China. In January 2021, China’s auto sales plunged by 18%. According to the China Passenger Car Association (CPCA), the sales of the first two-month could decline by 40% or more as compared to the same period in 2020. The production shortfalls as a result of supply chain disruptions in China will impact the global automotive and transportation industry.

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This exclusive report by EMR explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the automotive and transportation sector. The report studies the impact of the crisis on the global economy by assessing parameters like consumption, GDP, business investment, residential investment, inventory, and governmental policies and decisions. The regional economies analysed for Q1 2020 till Q4 2021 are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Keeping in mind the prevailing conditions, EMR’s new report titled, the ‘Impact of COVID-19 on the Automotive and Transportation Market’, gives a holistic understanding of the exposure of the automotive and transportation sector to COVID-19, covering markets such as:

• Engine and Exhaust Systems 
• Body (Interior and Exterior)
• On-Highway and Off-Highway Vehicles
• Advanced Technologies
• Driving Support and Security
• Automotive Components and Materials
• Automotive Systems
• Automotive Electronics and Electrical Equipment

For each of the above segment, the EMR report also gives an in-depth understanding of both the supply and the demand sides of the market by analysing:

• Key Parameters
• Price Variations of Key Raw Materials
• Production Shutdown
• Cash Flow Constraints
• Supply Chain Disruption
• Labour 
• Lockdown Impact
• Consumer Sentiments

With a focus on helping business leaders navigate through the shifting landscape, EMR also proposes some key short and medium to long term policies that look towards future growth while minimizing the economic damage.

Our experts at EMR leverage proprietary data, models, and expert opinion to provide timely insight into what the emerging pandemic means for the current needs of the market and future strategies of the industry players. We concentrate on helping our customers better understand the economic challenges, conditions, and uncertainty faced across all markets around the world. COVID-19’s impact on the automotive and transportation sector may take an extended period to correct, but global players can refer to our detailed report showcasing the impact on various sectors and mitigate risk in advance.

We have also updated all our reports considering the impact of COVID-19 Coronavirus on the various industries. Check out the reports in other categories to get a deeper understanding of how the COVID-19 has been impacting your industry.

Key Highlights of the Report