The automotive industry, globally, faced significant challenges before the onset of the coronavirus (COVID-19) crisis. On the eve of the pandemic, original equipment manufacturers (OEMs) were preparing for major change and the attendant disruption, as the transition to electric vehicles began to gain pace. Online searches in the UK doubled overnight, for example, when the UK government announced the phase out of sales of petrol vehicles by 2030.
Faced with these major changes and with many OEMs carrying significant debt burdens when the pandemic began, the industry has suffered more than most through the period of the COVID-19 crisis and will find emerging from lockdown and the related governmental support packages even harder. Does thi…
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