Effects of the Coronavirus on the Independent Aftermarket
The pandemic caused by the coronavirus presents the world population with unprecedented challenges.
Besides the health effects, the unavoidable measures now taken to effectively contain the virus are leading to a global economic crisis of unknown magnitude.
This development affects the automotive industry in difficult times to a very particular extent – and thus also directly affects automotive suppliers and the spare parts market with full force. In some cases, current production stops by car manufacturers are leading to plant closures as well as considerable production declines among suppliers and parts manufacturers.
The significant and necessary reduction of the entire public life and the resulting decrease in mobility reduce the repair and service market and, depending on the duration of the restrictions, show significant effects on the economic performance of all players in the Independent Aftermarket.
In this situation, besides the efforts everyone is making on their own, the considerable state emergency aid and subsidy programs, such as short-time work and grants to secure liquidity for companies in the independent aftermarket, are priority means for securing their existence.
We would like to thank the governments on behalf of our member companies for this decision, as well as for the rapid provision and flexible approvals.
At the same time, we appeal to the companies in the Independent Aftermarket, regardless of whether they are garages, dealers or parts manufacturers, whether they are corporate groups, medium-sized or small businesses, to make use of the available subsidies when needed to maintain their own existence and competitiveness.
In this way we all – and with it our efficient industry – will hopefully soon experience the economic upswing into the post-Corona time.
Our very special thanks go to the many people in the health care system, in the care sector and in all the industries who, with their great personal commitment, ensure that our daily lives continue to function.