Corporate debt piles up as CASE and COVID-19 challenges collide

The industry was entering a profit desert, and then came the global pandemic. Megan Lampinen takes a look at some of the current financial responses

The novel coronavirus and the subsequent economic downturn have thrown the global automotive industry into a rapid decline. As factories halted and demand disappeared, cash reserves dwindled. For automakers and suppliers alike, recovery could prove to be a significant challenge.

“In the short term, the expected reduction in turnover is absolutely massive,” noted Thierry Bolloré, former Chief Executive at Renault in a recent webinar. …

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