Already before the Corona pandemic hit global markets in Q1/2020, vehicle sales worldwide took a considerable dive driven by declining demand from China, global “trade wars”, and stricter CO2 emission regulations. Vehicle sales in 2019 had already declined even more sharply than in the Global Financial Crisis of 2008. Additionally, the global economic shutdown of Q2/2020 has caused even more serious decline; sales will not return to pre-Corona path in the medium term. Besides the economic slowdown, the industry has entered a phase of transformation; market shares per drive system will change significantly by 2030, fueling the need for automotive suppliers to implement adapted strategies.
