Automotive Market Industry Analysis, Size, Share, Trends, Growth and Forecast 2025
Get Sample Copy of Automotive Market at: https://www.omrglobal.com/request-sample/covid-19-impact-on-automotive-market
Some of the key players of the market include Bajaj Auto Ltd., BMW AG, Daimler AG, Fiat Chrysler Automobiles NV, Ford Motor Co., General Motors Co., Groupe PSA, Honda Motor Co. Ltd., Hyundai Motor Co., KIA Motors Corp., Renault SA, Toyota Motor Corp., Volkswagen AG, Yamaha Motor Co., and many others.
However, the industry is facing a heavy headwind amidst the global economic downturn and trade war between China and the US. Moreover, there are several other factors at the regional level that are affecting the industry growth rate in a particular region. For instance, factors such as raising GST on automobile vehicles and mandatory implementation of BS-VI from April 2020 are responsible for the decline in the automotive industry growth rate in India. While the industry has not recovered from these above factors, it has hit a hard brake with the recent outbreak of COVID-19 pandemic. The spread of coronavirus across the globe has forced plants to shut down, disrupted supply chain and quarantined workforces. Several automotive giants such as Volkswagen AG, Hyundai, Toyota, and Tesla have shut down their production plants for a definite period, causing severe impact on the global automotive industry.
A full report of Global Automotive Market is available at: https://www.omrglobal.com/industry-reports/covid-19-impact-on-automotive-market
The report analyzes the global automotive market on the basis of sales channels, product type, propulsion technology, and geography. Based on the sales channel, the market is segmented into OEM and aftermarket. Based on product type, the market is classified into passenger vehicles and commercial vehicles. Passenger vehicle segments which include 2 wheelers and passenger cars is expected to dominate the global automotive market over the forecast period. Further, based on propulsion technology, the market is divided into conventional vehicles and new energy vehicles. The conventional vehicle segment held the dominating share in the global market in 2018, whereas, new energy vehicle segment which includes fully electric vehicles and hybrid electric vehicles is estimated register robust growth over the forecast period.
o Sales Channel
o Passenger Vehicle
o Commercial Vehicle
o Propulsion Technology
o Conventional Vehicles
o New Energy Vehicles
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