Crisis as a Catalyst for Change
Focusing on Operational and Financial Discipline in the Wake of COVID-19
This is the first article, in a three-part series, created by the FTI Consulting Automotive & Industrial Team, in conjunction with The Automotive News Data Center. Part II will focus on innovation, followed by Part III with a look at navigating the evolving supplier ecosystem. The three-part article series will be followed by the release of comprehensive Auto Industry Perspective.
This is an extract from Automotive News, first published August 7, 2020. The whole publication is available at https://www.autonews.com/sponsored/crisis-catalyst-change-focusing-operational-and-financial-discipline-wake-covid-19
"Even before COVID-19 brought travel, tourism, hospitality and many other industries to a screeching halt, signals were emerging that the automotive industry was headed into a slowdown. After a decade of record sales and financial performance, global automotive sales hovered around 91 million units in both 2017 and 2018 and began sliding in 2019.1
Other forces were also at play, signaling that the automotive value chain was undergoing a massive transformation of its technology and business model. Consequently, where value was created and how enterprise performance was driven were also shifting.”
1: Automotive News Data Center analysis
Posted with permission from Automotive News. Copyright 2020 + Automotive News