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.