White Paper: The State of the Automotive Industry

COVID-19 and 2020 have presented a plethora of unique challenges to the automotive industry, including demand fluctuations, supply disruptions, capacity shortages and elevated rates. In the early days of the pandemic, the automotive industry was reeling. After new vehicle sales notched an impressive 8.4% year-over-year gain in February, sales tumbled for the next two months. In April, new vehicle sales were down 46% from the same time last year. The short-term outlook was grim; more than 30 million Americans were receiving federal unemployment benefits and had likely been taken out of the auto market.

This white paper provides an analysis of the automotive industry through a survey of shippers fielded during the third quarter of 2020. The findings provide a detailed view of the fluctuations in automotive demand, shifting dynamics in cross-border shipping, overall expectations around shipping costs moving forward and the role technology can play in helping to mitigate risk.

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