Auto Industry Trampled by COVID-19
June 5, 2020
The auto industry has been dealt a massive blow by the COVID-19 pandemic. According to a recent study by AlixPartners, worldwide vehicle demand is expected to drop by 25% this year and will not likely recover until the second half of this decade.
Vehicle manufacturers, ride-hailing businesses (like Uber and Lyft), daily rental companies, and automotive suppliers are all facing serious challenges.