As soon as news broke that life would be put on pause to battle the novel coronavirus, nearly every industry was affected. The automotive market in particular — both on the production and purchasing sides — had to alter its mode of operations almost entirely.
Now, with plants and auto dealerships reopening, the world is witnessing the future of the car production and purchasing process. Discover the ways in which the industry has and continues to change.
Last updated: June 24, 2020
Car Sales Will Decrease Globally
Globally, the auto sector already experienced a downturn in 2019 — and the coronavirus has only made it that much more difficult for the industry to recover. According IHS Markit, it is estimated that global automobile sales will decline by about 22% overall this year.
Initially, the disruption in supply and manufacturing hindered the industry significantly. Now, the decline in demand has led