Volvo

How COVID-19 has changed the automotive business, and what Volvo is doing about it

30-second summary:

  • ClickZ hosted a virtual briefing, The Impact of COVID-19 on the Automotive Industry & Marketing with Trevor Hettesheimer, Manager, KPI’s, Analytics, Search & Planning at Volvo.
  • There has been a sharp drop in automotive sales compared to the 2020 forecast in January, which predicted 16.8 million in total sales and 13.4 million in retail sales.
  • As a result of nationwide shutdowns combined with an oil price war, automotive industry sales were down 41% in March 2020 compared with the previous year.
  • To help mitigate the impact on its business, Volvo took inventory of their U.S. dealerships and assessed who could remain open for sales and service.
  • They then assessed what dealers could do business online and brainstormed ways they could safely deliver cars or allow consumers in lockdown to have their cars serviced.
  • Hettesheimer noted that the most significant drop in sales would likely be April at 60-80%
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The Volvo Group and Daimler Truck AG to Lead the Development of Sustainable Transportation by Forming Joint Venture for Large-scale Production of Fuel Cells

GÖTEBORG, Sweden, April 21, 2020 /PRNewswire/ — Sharing the Green Deal vision of sustainable transport and a carbon neutral Europe by 2050, two leading companies in the commercial vehicle industry, Daimler Truck AG and the Volvo Group, have signed a preliminary non-binding agreement to establish a new joint venture. The intention is to develop, produce and commercialize fuel cell systems for heavy-duty vehicle applications and other use cases. Daimler will consolidate all its current fuel cell activities in the joint venture. The Volvo Group will acquire 50% in the joint venture for the sum of approximately EUR 0.6 billion on a cash and debt free basis. 

“Transport and logistics keep the world moving, and the need for transport will continue to grow. Truly CO2-neutral transport can be accomplished through electric drive trains with energy coming either from batteries or by converting hydrogen on board into electricity. For trucks to

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