Every three months, CLEPA (The Europeas Association of Automotive Suppliers, of which Agoria is a board member) and McKinsey & Company perform their "Pulse Check", a survey amongst automotive suppliers on the economic situation and forecast. During the last survey, carried out between March 20 and 24 with 116 respondents, the focus shifted towards the impact of COVID-19 on the industry.

These were the most important results of the survey:

  • Over 70% of respondents believe in recovery within one year
  • 94% of respondents expect lasting changes to their way of working, for instance with respect to regular simulation of supply chain risks, increase in regional sourcing and an increase in remote work, less travel
  • Employment measures: 3/4 of companies is confronted with temporary closure / 47% of companies have a reduction in external staff / 1 out of 4 companies expects to lay off people.

The study also took a look on the estimated sales forecast for the automotive industry:

  • In China, a production loss of more than 2 mn vehicles was registered by Feb 2020.  Over all of 2020, the estimated loss will rise to more than 4 mn units
  • In Europe, a 25-30% sales volume reduction is expected over all of 2020, which represents a sales loss of 5-6 mn vehicles

The full report is available upon request. Send an e-mail to ward.vleegen@agoria.be.