The business’s concern has moved on from being centered on provide chain disruption from China to the general stoop in demand for automotive merchandise. The demand for industrial automobiles is expected to plummet with the shutdown of all non-essential companies. Furthermore, modifications in consumer shopping for habits owing to uncertainty surrounding the pandemic may have severe implications on the near future progress of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is additional expected to widen over the subsequent few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impression on the growth of the automotive & transportation trade.
Every business is classified into completely different industries based mostly on the merchandise they make and the markets they cater to. These industries are classified on their specialties that are based mostly on goods and services they provide.