As I mentioned in another thread a day or two ago, I would have never guessed we'd find ourselves in this precarious spot. But here we are, dealing with a global pandemic.
This has put the global economy on the skids.
While it's easy to see why lodging as well as airlines are getting hammered the hardest, others are not too far behind. That includes the restaurant industry and automotive. With events and product debuts getting canceled left and right, it's been a tough Q1. This will certainly carry into Q2, and possibly, Q3.
With automakers' factories being shut down or retooled for the production of medical supplies, you better believe there's a tangible impact here. And, electric vehicles are going to be a part of that hit.
Having said that, we've got to wonder:
Is this going to HALT the EV revolution or merely be a hiccup in the grand scheme of things?
What say you, Spies?
A few years ago a major turning point in the automotive world took place. After Tesla’s massive success caught the eyes of the financially motivated, just about every auto manufacturer announced plans to make a transition towards electric cars. Contrary to their original cons, EV’s now have plenty of range, just as good (if not better) performance, and have even come down significantly in costs to both produce and purchase. The world was on track to make the next transition from the dated horse carriage to the future.
Late last year we caught whim of a deadly virus spreading throughout the world’s largest automotive market, China. Since then the Coronavirus (COVID-19) has become a global pandemic. Countries are on full lock-down with many afraid to leave there homes. Warranted or not, it has caused a stir within the worldwide economy.
Auto sales were already on a yearly decline with many stating we were amidst an automotive recession...
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