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Global Car Industry Will Undergo Remodeling in Five Aspects in Post-Epidemic Era (No.275, 2020)


By Song Zifeng, Research Department of Industrial Economy, DRC

Research Report, No.275, 2020 (Total 6019) 2020-11-19

Abstract: The global car industry has suffered an unprecedented hit induced by the epidemic, while it has also shown some new development characteristics. At present, the epidemic has not changed the major trend of car industry’s transformation featured by electrification, intelligence and common sharing, whereas it will alter the pace and speed of the realization of transformation and might turn some short-term performance into longer trends. In the post-epidemic era, it is predicted that global car industry will undergo remarkable remodeling in the following five aspects. 1. The remodeling of growth track. The industry might face a readjustment and recovery period lasting about five years. 2. The remodeling of product structure. The electrification and intelligence transformations will notably pick up speed. 3. The remodeling of industrial layout. The regionalized, peripheral and localized reshoring trend will become stronger. 4. The remodeling of car society. The relations between car industry and urban forms and energy systems will face major adjustments. 5. The remodeling of competition landscape. Market scale, fundamental infrastructure and governmental regulation will play decisive role in the competition of car industry in different countries.

Keywords: post-epidemic era, global car industry, remodeling