Results Are In: COVID-19 Automotive Outlook Flash SurveyAugust 3, 2020
Listen to a Discussion of Survey Results:
Key findings include:
- 46% of total respondents have a negative outlook of the U.S. economy over the next year, dropping to only 13% over the next 24 months.
- 56% of total respondents believe U.S. light vehicle production will strengthen in 2021 compared to 2020.
- 50% of total respondents have accessed the Paycheck Protection Program.
- 84% of automotive industry respondents were required to suspend or curtail operations in the U.S. due to a government-ordered shutdown, along with nearly 50% shutting down operations in Mexico.
- 20% of automotive industry respondents were required to suspend or curtail operations in the U.S. due to COVID-19 related issues after reopening, compared to only 5% in Mexico and 5% in Europe.
- 44% of total respondents believe company revenues will decline more than 20% over the next year, and another 44% expect declines between 1% and 20%.