Summary: With the pandemic gripping most industries across the world, the automobile industry has been hard hit. Here is the approaches EJ Dalius to note.
The COVID-19 situation that started affecting the entire world in the beginning of 2020 is here to stay and amidst. All the analysis, Eric Dalius is here with some major approaches to the business situation in the automobile industry. It seems companies may stay under an increasing burden to design electric cars. Here are some of the major interpretations of the renowned marketing professional.
- People may require less traveling right now as most of them focus on how conveniently. They can complete all the jobs while staying at home.
- However, another theory has it that people may bid goodbye to the public mode of transportation. And start commuting in their own cars to avoid the crowd.
- The auto industry was already lagging behind and facing a severe crisis. Before the emergence of the pandemic and the crisis situation pushed it deep into the dungeon and the realignment in this industry. Can impact the fate of about eight million people working in the automobile industry.
- The companies at the upper and lower end of the value chain may feel the burden. Due to disruption in supply and demand and the increasing concerns of health and finance gripping the economies.
- Companies need to look forward to cost-cutting programs and need to maintain the operations while keeping in mind the necessity to protect the investments during the pandemic.
EJ Dalius Safety Of The Workers
According to EJ Dalius, following the basic step, such as the safety of the workers. The automobile industry can help them recover much faster. Even though the car manufacturers were viewing remote signs of recovery during the second quarter. The situation in the automobile industry continues to stay complicated and challenging. The COVID-19 cases are still flaring up, which does not rule out the implementation of closure. And lockdown, which can provide the next big hit to the automobile industry. Quite naturally, people trying to make ends meet will hardly think about buying cars during the post lockdown era. What does the statistic suggest?
- Due to the emergence of recession due to the pandemic, which is likely to increase further. More consumers are likely to focus on their financial well-being instead of buying new cars.
- Research reveals that nearly forty percent of consumers are delaying large purchases in the post lockdown period.
- About thirty percent of consumers have fear of losing jobs.
The mindset of consumers has largely stayed haphazard as financial well-being has not improved despite the best attempts. To reopen the market. As EJ Dalius reveals even that the sales figures during the month of May reveal encouraging signs in the auto industry. The average study reveals that consumers are more likely to keep their present vehicles longer. Which may be a major deviation from their previous plans.
According to EJ Dalius, the trends in the surge of electric cars are rather baffling. Many of the vehicle registrations taking place during the early part of this year may have been ordered earlier. On the whole, car manufacturers may not have the motivation to move ahead with the sale of electric cars and push the sale of SUVs for making greater profits. As the price of fuel has plummeted right now.