Vehicle manufacturers and Tier 1 and 2 component manufacturers should avoid severing relationships with businesses further down their supply chains and look for ways to support them on the way to recovery. Doing so could give them a competitive advantage as the pandemic starts to subside.
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Re-making, re-engineering, and transformation are all terms the auto retail sector was discussing before the crisis. The corona virus is offering a real opportunity to turn this rhetoric into reality. If there was ever a moment “not to waste a crisis”, it is now.
With the COVID-19 coronavirus pandemic impacting global supply chains, concerns are growing that some automotive OEMs could be forced to switch components or find alternative sources of supply.
Coronovirus and its sudden impact on the Chinese economy might be occupying the news headlines, but there are broader changes afoot over the longer term.
Accessing and organising data, which is both reliable and capable of delivering valuable business insights, is a constant challenge for high-value manufacturers.
Having recently secured a major £120m bonds deal, Aston Martin appears to be banking on innovating its way through the current tough trading conditions and CEO, Andy Palmer, has promised that its ambitious investment plan can succeed.
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