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KPMG International Report: ”Global Automotive Executive Survey 2020”

COVID-19 pandemic accelerates the end of the traditional global automotive market.

COVID-19 pandemic accelerates the end of the traditional global automotive market.

The most important trends in the industry indicating the directions of the automotive market development are currently battery powered vehicles, connectivity and digitisation, fuel cell electric vehicles and hybrid electric vehicles. According to the representatives of the management of automotive companies, the global pandemic leads to the emergence of clearly different automotive markets.

Global Automotive Executive Survey 2020

The COVID-19 crisis will lead to fundamental changes in demand, with the effect of a much deeper systematic recession. Sales teams should not be laid off. Instead, companies should focus intensely on managing customer relationships and digital demand and providing flexible, low up-front cost offerings to actively counteract increasing consumer uncertainty and TCO-driven purchases.

Companies with strong liquidity can take advantage of the opportunities in new partnerships that lie ahead, including the detection of M&A targets in a market that expects widespread consolidation. The crisis also serves certain companies with the ability to redefine themselves in the market.

The report is available at: https://automotive-institute.kpmg.de/GAES2020/

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