Opportunities and challenges in, Auto repair industry under COVID-19
In 2020 opened a not so good at the beginning of, a sudden wave will be coronavirus across the world, it is United Nations secretary general Guterres called since the second world war, the worst of the global crisis, the economic impact of the unprecedented 2020 outbreak of the global economy synchronization and deep recession continue to spread, and continuously overweight prevention and control measures, the impact on the global economy it is more than the global financial crisis in 2008, in accordance with the international monetary fund (IMF) forecast, in October 2020, the global economic downturn 4.4%, as the great depression of the 1930 s The worst recession since.
The impact of the epidemic on the auto industry
As the worldwide epidemic of escalating, the automobile industry has experienced the test of history’s most severe, almost overnight, all emergency operations forced layoffs, and profit loss warning sound, according to incomplete statistics, more than ten carmakers have shut down their more than 100 line factory, even some big manufacturers have also had to shut down production base is located in Europe and the United States
The epidemic is a black swan so the automotive after-service market almost pressed the pause button.
The trend remains positive
Although affected by the epidemic, the whole industry has been greatly impacted, but the trend of industry development will not change
2021 is a key year for the automotive aftermarket. The overall trend of the industry will not change, but the speed of change will vary from fast to slow. The future pattern will be clearer as the epidemic gradually eases, consumer demand will be released, and the overall trend of the industry will improve.
People are more inclined to drive or take a taxi to go to work or go out, and try to reduce or avoid taking public transportation. Therefore, the use rate of cars will increase during this period. From the perspective of emotion, car owners will be more dependent on cars, so they may increase their investment in their loved cars.
The auto market after the COVID-19
According to the analysis of the automobile industry body, the epidemic will trigger residents’ thinking about public travel safety, which will generate new stimulation points for residents’ demand for buying cars for the first time. The huge number of cars may accelerate the optimization and adjustment of the industrial structure of the automobile aftermarket, but it will also cause certain pressure on urban traffic and the atmospheric environment.
It is not difficult to see from the above, although today’s automobile industry has certain challenges, sooner or later will usher in a turnaround. And there is huge market potential.
Whether you want to choose the auto repair industry or are in the industry, hang in there, spring will surely come!
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COVID-19 is a great test for the industry, the industry will be more competitive, but it also brings us opportunities for development. Kingkar wished all the companies a smooth ride through the crisis and accelerated innovation and rapid growth in the following year 2021. Let us work hand in hand to overcome difficulties.