In support of the new normal
When you think about COVID-19’s impact on the automotive industry, there are three or four timelines that you have to consider in order to gauge the full story. It’s a challenging ask, as each region is on differing timelines, and with lockdown restrictions in place, momentum of sales, incentives and pricing have either slowed or all but disappeared.
Nevertheless, we are taking on this challenge. At JATO, our data hasn’t slowed, and we are delivering our industry insights as normal. In fact, analysis, extraction and delivery of key information to our customers is more important than ever.
Whatever shifts in the market, little or small, we are tracking them and ensuring our clients know the relevance for their businesses. While there may be limited changes in the sector at the moment, movement is coming, and it is imperative we stay abreast of the changes.
What will happen to vehicles that are currently sitting in warehouses, ageing? What incentives will be put in place to spur consumer spending when lockdown measures are lifted? Will changes to public transportation alter demand for private cars? Is remote working the new normal and what impact will that have on the industry?
These are just a few of the topics we are helping our customers navigate. Through the use of historical data and new research being conducted every day, we are able to assist our partners with the assessment and deliberation of these important questions.
Alongside helping our customers understand these shifts, our main focus is firmly on the outlook of the industry and the new vehicles that are yet to reach the market.
It is often taken for granted that a brand-new vehicle requires up to five years before production. From an initial concept to its release. Those who were supposed to be launching in 2020 for instance, drew up their first designs as early as 2015.
With COVID-19 altering consumer priorities, we are anticipating numerous and fervent discussions surrounding upcoming models and their likely success. When looking for a new car, will customers allocate their budgets to faster, slicker and more fashionable vehicles, or will their preferences move towards cars with newer technologies, capable of increased levels of hygiene, such as advanced air filtration systems?
Similarly, where emission regulations have previously failed to secure the interest of the global population, COVID-19 has been able to shed light on the growing problem. With remote working contributing to clearer lakes, rivers and less polluted skies, nations are collectively realising that CO2 levels are out of hand. The industry seems more aligned than ever before, and this begs the question, moving forwards are environmental concerns also going to top the agenda for consumers?
At this present moment in time, nothing is certain. But one thing we can promise is that we are regularly horizon scanning, with the needs of our clients and the global industry in mind – looking ahead and preparing for a world outside of lockdown.