Abstract
The economic impact of the coronavirus pandemic is evident in many sectors, from service to manufacturing, leading to a synchronized shutdown of an industry not seen since World War II. The pandemic has enormous social, economic and political consequences. It will undoubtedly be marked as a watershed moment in modern history and will cause a change in the lifestyle we have known for the last few decades. In addition to being one of the greatest crises in our civilization in shock, scale and depth, the pandemic has caused many problems for vehicle manufacturers. Broken supply chains, cessation of production, shutting down factories, layoffs and declining interest and customer demand are circumstances that are driving the automotive industry into a deeper recession. The aim of the paper is to point out the consequences that the coronavirus pandemic will have on the automotive sector, as well as to identify the deficiencies of the planning system, the lack of risk management and emergency management by analyzing the basic elements o f the supply chain.
Highlights
Since its origins over a century ago, the automobile industry represented a kind of an economic phenomenon
Main producers announce an undefined period of stopping production Number of infected is increasing in key countries such as Germany, France, Spain, Italy and Great Britain, influencing on regional demand Extended closure of production facilities on key markets such as India causes a disturbance in the supply chain Corona virus has a significant impact on global car sales
United Nations Conference on Trade and Development (UNCTAD) estimates that a 2% decrease in export of parts and indirect input from China to car manufacturers in the EU, North America, Japan, South Korea and other countries would lead to a smaller value of exports of cars in all economies around the world of 7 billion dollars (UNCTAD, 2020)
Summary
The economic impact of the coronavirus pandemic is evident in many sectors, from service to manufacturing, leading to a synchronized shutdown of an industry not seen since World War II. The pandemic has enormous social, economic and political consequences. It will undoubtedly be marked as a watershed moment in modern history and will cause a change in the lifestyle we have known for the last few decades. The aim of the paper is to point out the consequences that the coronavirus pandemic will have on the automotive sector, as well as to identify the deficiencies of the planning system, the lack of risk management and emergency management by analyzing the basic elements of the supply chain
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