IHS Markit sees a 3% increase week-on-week (w/w) in Canada national registration volume, representing 600-unit volu… https://t.co/5LqXMhs2L9
Automotive loyalty in the wake of the COVID-19 recession
With US auto sales forecast to decline as a result of the nationwide shutdown due to the coronavirus disease 2019 (COVID-19) outbreak, the automotive industry is set to be substantially impacted on levels unseen since the 2008 recession. Nationwide retail closures have already led to an unprecedented drop in sales volume while future production has come to a near standstill. In addition, unemployment claims have reached record highs, crippling consumer confidence and further limiting forecasts for a quick recovery.
With the chance of another economic recession rapidly growing, it is important to investigate the past to help understand what is in store for the future. For this, monitoring the events surrounding the 2008 recession could provide the closest example of how this upcoming downturn may play out. By identifying the length and essential factors of the recovery, we can better determine what awaits the automotive industry and why this recovery could face more challenges than in 2008.
This whitepaper looks back on registration and loyalty trends following the 2008 recession to prepare for a post-COVID-19 reality.
- Automotive Rapid Response Report - 20 May 2020
- COVID-19: Global Auto Demand Tracker
- Automotive Rapid Response Report - 13 May 2020
- April numbers for China added to Global Auto Demand Tracker
- COVID-19 pandemic: EV charging industry wrestles with a new magnitude of underutilization
- Automotive Rapid Response Report - 6 May 2020
- Global Auto Demand Tracker from IHS Markit
- IHS Markit trims 2020 global light vehicle sales and production forecasts
The Automotive Manufacturing Disruption Index is now below 50 for the first time since its debut in early April.… https://t.co/yrXKg9uG9X