Webinar: Coronavirus' Potential Impact on Auto Industry
March 6, 2020—Center for Automotive Research (CAR) is hosting an upcoming webinar, "Coronavirus Update: Disruption and the Impact to the Auto Industry," according to a press release.
The coronavirus outbreak (COVID-19) has spread now to South Korea, Europe, and the Middle East, even as the number of reported cases in China are steadily declining. The Dow Jones Industrial Average dropped sharply on Feb. 24 as news of the spread of the disease came out over the previous weekend.
On Jan. 25, the CDC encouraged businesses, hospitals, communities to prepare for the possible spread of COVID-19 in the United States. The North American impact of the supply chain disruption may still be a few weeks out.
According to an article from Southern Counties Lubricants, the outbreak could cause shipping delays and disruptions in manufacturing. The impact is already being felt among American business, including automotive, manufacturing, and oil.
According to The New York Times, oil and natural gas producers have been suffering from low commodity prices for the past year and now expect a sharp drop in global prices for their products. Because of this, they are preparing to slash investments in exploration and production. Last month, Exxon Mobil, ConocoPhillips and Chevron reported low earnings because of low oil and gas prices and narrow profit margins, according to the report.
According to the release, CAR’s vice president of research, Kristin Dziczek, and CEO at ZoZo Go, Mike Dunne, will host the webinar, where they will discuss the potential impacts of coronavirus on the automotive industry.
The webinar will be made available to the public next week. Updates will be made with the link.