Amidst the spread of the coronavirus pandemic globally, we have seen businesses react in very different ways – some have been able to work through the pandemic extremely well despite other factors that may have otherwise limited their growth such as online betting sites – at a time where restrictions were placed through regulation and the underlying platform of sporting events which they rely on causing uncertainty, the-best casinos provide a list of non gamstop sports sites that were able to subvert all expectations. This is similarly true for most forms of digital media as they have all shown to be extremely resilient to what is happening, but the same good news doesn’t ring true for all.

(Image from bain.com)

One of the biggest industries in the world may be suffering more than had been previously anticipated – the auto industry had already been moving through changes as the rise in electric vehicles had been causing a shift in how production and distribution had been managed, but the sheer size of the industry and the numbers moved each year would suggest relative safety – this didn’t turn out to be the case as within just one month of the pandemic, auto sales in the first hit region of China dropped by over 80 percent. Similarly it had been mentioned that US car sales had been impacted much more than previously thought too, sales were expected to drop to 15.4 million vehicle sales, over a million fewer than the year prior, but this had been suggested toward the start of the pandemic in the country which continues to now be the hardest hit in the world – combined with growing unemployment, it may be difficult for the auto industry to recover from this.

This is particularly difficult on the electric vehicle market too – not only are many of the materials required to build these vehicles sourced in locations that are heavily impacted, but also because this market segment is still very much in its youth – there had been suggestions that a renewed focus on an environmental recovery could have the opposite and spur a change for buyers to look toward electric vehicles in a more positive light, however as many look to get back to work in the most reliable way possible, it may be less likely that EV is the choice at hand – with a price tag more on the premium side for most entries, coaxing people away from the traditional ICE engine when there are other concerns to consider seems like a tough sell.

There is a silver lining with oil prices dropping as much as they have which will impact the cost of fuel, which may encourage many back out onto the road and encourage some to splurge with the newer savings in mind, but for now the longer term impacts may take some time to fully realise – the shorter term outlook is bleak, however, and the longer the pandemic impact is felt for, the less likely the auto industry is able to draw any positive signs.