COVID-19 impact on global auto industry gross value added

The global auto industry is anticipated to be affected by the outbreak of COVID-19 in all major markets. In a worst-case scenario, the industry's gross value added could be down 10.6 percent in 2020.

Estimated impact of the coronavirus (COVID-19) epidemic on the global auto industry's growth of gross value added in 2020, by scenario

Characteristic	Growth of gross value added in percentage points
Delayed curve	-2.4%
Fast recovery	-9%
Profound recession	-10.6%

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Release date

March 2020

More information

Region

Worldwide

Survey time period

as of March 2020

Supplementary notes

Fast recovery: Worse than expected sales volume due to reduced customer confidence in the first six months of 2020; increased ramp-up to offset losses between July and December 2020
Delayed curve: Sales volume declines due to component shortages and supply chain implications in the first six months of 2020; Q4 2020 ramp--up to minimize effect
Profound recession: Vehicle sales are 10 percent lower than previously expected; no ramp-up due to continuous impact on supply chain

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