Impact of COVID-19 on Germany's Car Market!  #automotive #automotiveindustry #germany #covid19 #news
Channel: e-Techvolution
Date: 2024-02-22

Expert Introduction: Dr. Eckhard Schueler-Hainsch, Managing Director at ZMI Strategieberatung GmbH, with 12 years of experience at Daimler's Innovation department, and my esteemed professor at HTW Berlin, offers valuable insights.

Remark: This short provides insights from my detailed 14-minute analysis. If you've already seen the full video, this version may not offer new insights. However, if you missed it or this segment, here's a short segment of my detailed analysis video. 

Lockdown Effects on Supply Chain: Factories and dealerships faced closures during lockdown phases. Even when open, disruptions in key materials, such as steel, semiconductors etc. imported from countries in lockdown, led to significant disruptions in the automotive ecosystem.

Demand Shift: Reduced shifts and weeks-long closures in major OEMs, unheard of in the automotive sector, forced key component providers like semiconductor manufacturers to divert supply to consumer electronics. This shift was driven by the rise in remote work, making it challenging for automotive companies to regain their supply.

Firsthand Experience: Working at Schaeffler, a Top Tier 1 supplier and Employer in Germany, I directly witnessed these shortages. Securing sufficient supply during this period for the entire automotive industry was a challenge, with prices soaring to unprecedented levels.