Impact of COVID-19 Pandemic on North American Automotive Industry Market Size, Growth and Industry Report To 2025

As per the International Organization of Motor Vehicle Manufacturers (OICA), North America is witnessing a downfall in the sales of the vehicle from the past three years. Around 20.8 million vehicles were sold in 2019 as compared to 21.1 million in 2018. As per the International Trade Administration, the automotive sector supports around 4.0 million jobs in the US. The US witnessed around $115 billion FDI in 2018. The country exported around 1.8 million light vehicles and 131,000 medium and heavy trucks globally in 2018 which valued around $60 billion.

Get Free Sample Copy @ https://www.omrglobal.com/request-sample/impact-of-covid-19-pandemic-on-north-american-automotive-industry

Before the COVID-19 pandemic, flat growth in the number of vehicle sales in North America was expected in 2020. New technologies such as self-driving vehicle technology, ADAS systems were expected to provide additional revenue on cars in the upcoming period. However, due to the COVID-19 pandemic, vehicle production and assembly have been halted at most of the units in the region and vehicle sales have been dropped by 70-90% at various locations in the first quarter of 2020.

A Full Report of Impact of COVID-19 Pandemic on North American Automotive Industry is Available at: https://www.omrglobal.com/industry-reports/impact-of-covid-19-pandemic-on-north-american-automotive-industry

By April 2020, the US became the most affected country due to the COVID-19. North America has witnessed around 600,000 cases due to COVID-19 by 13th April 2020. Out of this, around 560,000 were registered in the US alone, highest in any country all across the globe. As a health precaution and lower demand, the automotive companies had to halt the operations at most of its production and assembly plants in the region.

The North American automotive industry report is segmented by sales channel, vehicle type, and propulsion technology. By the sales channel, the segment is further divided into OEM, auto-ancillary, and aftermarket. By vehicle type, the report is further analyzed into passenger vehicles and commercial vehicles. By propulsion technology, it is studied into conventional energy vehicles and new energy vehicles. By geography, the report is segmented into the US and Canada.

Key companies of the automotive industry that are getting affected in the region include; General Motors Co., Ford Motor Co., Fiat Chrysler Automobiles N.V., Volkswagen AG, BMW AG, Daimler AG, Nissan Motor Co., Ltd., Tesla Inc. among others. A number of automotive companies are shutting their manufacturing units to prevent the spread of the virus. For instance, on 17th March 2020, the United Auto Workers announced the temporary shutdown of automobile factories in North America. After this, Ford Motor Co., General Motor Co., and FCA announced to shut down their plants till 30th March 2020 in the country. However, most of the plants were not started again in April 2020. Other automakers including Hyundai, Honda, Mercedes-Benz, Tesla, Kia, Toyota Volvo, Nissan have also closed their plants in the US.

Segmentation

Sales Channel
OEM
Auto-Ancillary
Aftermarket
Vehicle Type
Passenger Vehicle
Commercial Vehicle
Propulsion Technology
Conventional Energy Vehicles (Gasoline)
New Energy Vehicles (Electric)

Regional Analysis

The US
Canada

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/impact-of-covid-19-pandemic-on-north-american-automotive-industry

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 780-304-0404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

This release was published on openPR.