How the pandemic has affected the Motor Industry
From disruption in Chinese parts exports to large scale manufacturing disruptions in Europe, the COVID-19 pandemic has affected the Motor Industry in more ways than you’re probably aware of.
A prolonged truncation of consumer demand as countries work through various country lockdowns could potentially spark a global recession, leading to widespread loss of consumer confidence, significantly impacting automakers revenues and profitability.
Before the pandemic, car production was already falling. The uncertainty was making manufacturers reluctant to invest in Britain, due to Brexit happening at the time.
The shortage of computer chips being global resulted in manufacturers not being able to get hold of them, and when they did, the price skyrocketed due to the increase in demand.
Despite the general malaise in the industry, throughout the pandemic, the production of electric and hybrid vehicles rose by about 30%. This percentage makes up for nearly a quarter of all cars built. Read More About faptitans abd click here sarkariresultnet and again visit here to this website nutakunews Visit this website lifeselector and click here cuntwars
The Aston Martin Rapide E was one of the most exciting electric cars to come out of the pandemic. Only 155 cars were sold (which is a clever tactic as its top speed is 155mph).
The Rapide E can recharge at 300km each hour, with a 50kw charger or 500km each hour using 100kw or more.
Although creating electric vehicles may seem like a great solution, it has its downfalls. Automotive companies will need to be aware of the ever-rising energy costs.
Suppliers facing liquidity issues may succumb themselves to rapidly deteriorating conditions in the market. This could potentially lead to catastrophic consequences across the entire global automotive manufacturing ecosystem.
As with multiple industries across geographic regions, the COVID-19 pandemic brought a great increase of trends across the mobility value chain that were building before it occurred.
Luckily, with today’s insanely clever AI technology, consumers were still able to purchase cars throughout the pandemic with the dealers online, virtual viewing with 360-degree views of the vehicle.
During the pandemic, when dealerships around the world tried to tackle solving in-person restrictions, the technology proved to be invaluable.
Potential buyers could take advantage of sites and apps that enabled them to explore appropriate related services, even including insurance and financing.
Both physical and virtual platforms are sitting side by side, as many people still want to sit, feel and test drive cars in real life.
Some examples of dealerships that are at the vanguard of selling include; Tesla, Volkswagen, Volvo and Porsche.
For the future of the automotive industry, post-pandemic, there are a few things that need to be considered.
A decrease of 13.8% in sales has been predicted for the post-pandemic. This is likely due to the pandemic resulting in an unfortunate loss of businesses, jobs and ultimately money.
Hopefully, we can expect to be out of troubled waters soon enough, and go back to producing and selling vehicles normally. Whether they’re electric or not.
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Things are luckily starting to look up again for the automotive industry, with China’s rebound still accelerating, they aim to approach 30 million vehicles sold by 2025.
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