The Future of Automotive
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The Future of Automotive

030405060102How The Pandemic is Changing The Future of AutomotiveRestarting the global automotive engine01Significant challenges lie ahead for companies trying to rev up the global automotive engine.IT’S the question every backyard mechanic asks themselves just before they turn the key after rebuilding the engine on their favorite old car—will it start? In most cases, getting the engine to turn over is just the beginning.06The stress on the ecosystem may also mean an upturn in corporate bankruptcies, as companies heading into the pandemic in a relatively weaker financial state may not have the cash reserves or the ability to refinance that they need to weather this storm. 02Financial pressures set the stage for lasting sector impact.In the face of a possible lengthy recession, many consumers around the world are worried about their financial well-being.03How would people want to reengage with the automotive industry?Assuming demand will eventually return, manufacturers are still faced with the task of meeting an evolving set of expectations when it comes to the way in which consumers will engage with the sector.05Better prepared than last time, but still vulnerable.Some automotive companies entered the current crisis in a much better financial position11 as compared to the recession a decade ago, but debilitating liquidity issues loom ever larger given the current economic uncertainty. 04Are consumers changing the way they view mobility?The COVID-19 pandemic is also influencing the way many people think about mobility. The need to maintain physical distancing is leading many to a conclusion that the idea of vehicle ownership is valuable to them—79% of consumers in France, 74% in the United States, 69% in the United Kingdom, and 63% in South Korea.
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publish time: 2021-02-01
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The pandemic is changing the future of automotive. Faced with a possible lengthy recession, many consumers around the world are worried about their financial well-being some automotive companies entered the current crisis in a much better financial position11 as compared to the recession a decade ago. Significant challenges lie ahead for companies trying to rev up the global automotive engine. Financial pressures set the stage for lasting sector impact.

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