Preparing for the Post-Corona Era:
Tips for the Automotive Industry
Our research has shown that when economies generally take 12-24 months to recover from a crisis, it takes even longer, up to 3 years, for the car markets to recover. However, the COVID-19 crisis is different from historic crises since its root cause cannot be eliminated until a treatment or a vaccine is developed. As a result, the recession that will follow — and its impact on car sales — will be profound. In the meantime, innovation won’t come to a halt. Powertrain electrification technology and digitalization will have made additional advances just as buyers return to the market.
The “new normal” for the automotive industry will look very different from that of the last decade. Players — manufacturers, dealers, distributors, OEMs, and the full supply chain — will need to make bold decisions right now to be ready. In this webinar, Andreas Schlosser, Alan Martinovich, and Philipp Seidel divulge the actions carmakers should take now to set themselves up for the new normal and win in the post-corona era. They reveal:
- Research into the current economic crisis and expected recoveries of various regions, including the US, individual European countries/regions, and China
- Why fully embracing transformation (to electric vehicles and digital sales, for example) is critical
- Where investment makes the most sense: what will the winning product lines of 2024 look like?
- Why now is the best time to reboot the sales organization and embrace digital sales tools
- Potential new, near-term profit opportunities spawned by declining new car sales