COVID-19 puts the brakes on the auto industry
With assembly operations shut down and supply chains stalled, this sector has been hit hard by the pandemic. Read this EDC Economics overview to find out how it will rebound.
The global automotive sector came into 2020 on solid ground—until the outbreak of the coronavirus. Production screeched to a halt and sales plunged, making it one of the most vulnerable industries to the global pandemic. Although COVID-19 will cause some consumers to delay new car purchases, a sharp acceleration is eventually expected to help drive the overall economy forward.