Coronavirus

The so-called novel coronavirus, now officially called Covid-19, is deeply changing our daily lives. This tragedy of unprecedented scale is shaking people across the world and disrupting the global economy. The growing adverse impact of the pandemic is savaging global industries in practically all sectors.

One of these is the auto industry. In the past few weeks, automakers including Ford, GM, Tesla, Nissan, Ferrari, Lamborghini and more have understandably suspended their operations, with workers being sent home to control the spread of the coronavirus.

Earlier, various major international auto shows like the Geneva Auto Show and the New York Auto Show had been called off -- underscoring the severity of the situation which has now hit at once-shining testaments to the robust health of the industry.

Amid this severe outbreak, consumer confidence is obviously at an all-time low. In the Philippines, the whole island of Luzon is on a month-long enhanced community quarantine, making the wheels of industry grind to a halt.

We await to see how this ultimately impacts the auto industry but, surely, many consumers previously interested in or were browsing for a new vehicle are likely to pass on that at least for the meantime.

This means a challenging period looms in the horizon for all the industry stakeholders. Carmakers and dealers need to be creative and agile to adapt to this new normal while assuring better days ahead. Here's hoping it gets better sooner than later.

For informational purposes only. Consult your local medical authority for advice.
Source: World Health Organization