Tracking the situation for timely insight and foresight
How will the COVID-19 pandemic affect automotive markets in both the short-term and long-term?
The coronavirus disease 2019 (COVID-19) outbreak is an ongoing global situation. Besides the human tragedy, it is severely impacting economies and industries around the world, including the automotive industry. At IHS Markit, our Automotive experts are leveraging proprietary data, software and analytics to offer timely insight into what COVID-19 means for vehicle production and demand.
Follow us for regular updates and more in-depth analysis on how markets and businesses will be impacted by the outbreak of COVID-19 and how they can plan ahead across global markets.
Automotive Rapid Response Report
As the COVID-19 pandemic continues to unfold, IHS Markit offers uniquely actionable, rapid insights to drive your business. Insights powered by the most up-to-date information available provide critical intelligence to inform near-term planning and longer-term strategic decision making.
Download our weekly Rapid Response Report to get real-time market feedback on specific market actions that will help you get a step ahead and help determine which actions to take next.
People may choose to move away from dense urban areas to more rural areas where a car is a necessity.
Fear of contracting COVID-19 via public transportation may encourage personal car ownership.
Higher divorce rates due extended quarantine may turn many one-car families into two one-car families.
Track and Trace initiatives may give birth to new use cases for LiDAR.
Fear of touching fuel pumps may encourage purchases of electric vehicles that can be charged from home.
Mobility-as-a-service use cases have expanded from moving people to moving goods.
The EV could help to simplify the supply chain
New vehicle sales have plummeted.
Work from home has reduced the need for multi-car families.
Fewer miles traveled has reduced the need for repair/replacement parts.
Mobility-as-a-Service has seen reductions of 75-80%.
Lower fuel prices due to less demand has removed an incentive to buy electric vehicles.