INTERNATIONAL BUSINESS TIMES: As More Plants Shut Down Can The UK Auto Industry Survive Coronavirus?

Press/Media: Expert comment

Release date: 18/3/2020

Description

Professor Karel Williams at Manchester Business School said the U.K. car industry will likely consolidate following the crisis.

“It’s clear from what Volkswagen has been saying that lost sales will not be found again and there will be a massive hit in terms of loss-making in the major carmakers,” he said. “The markets will recover but the companies will be weakened just when they’re requiring large-scale investments in electrification. That will force them to rethink their portfolios of factories, models and markets.”

Williams added that some of the multinational automakers could dispose of their U.K. assets.

“The review of factories, models and markets is not going to be good for the British car industry,” Williams said. “The last thing the industry needs is a major disruption to both demand and supply. The more marginal the operations, the model and the market, the more likely things are to be cut.”

Promoted Content

Media contributions

TitleAs More Plants Shut Down Can The UK Auto Industry Survive Coronavirus?
Media name/outletInternational Business Times
Media typeWeb
CountryIndia
Date18/03/20
DescriptionProfessor Karel Williams at Manchester Business School said the U.K. car industry will likely consolidate following the crisis.

“It’s clear from what Volkswagen has been saying that lost sales will not be found again and there will be a massive hit in terms of loss-making in the major carmakers,” he said. “The markets will recover but the companies will be weakened just when they’re requiring large-scale investments in electrification. That will force them to rethink their portfolios of factories, models and markets.”

Williams added that some of the multinational automakers could dispose of their U.K. assets.

“The review of factories, models and markets is not going to be good for the British car industry,” Williams said. “The last thing the industry needs is a major disruption to both demand and supply. The more marginal the operations, the model and the market, the more likely things are to be cut.”
Promoted Content
URLhttps://www.ibtimes.com/more-plants-shut-down-can-uk-auto-industry-survive-coronavirus-2942227
PersonsKarel Williams