LONDON--(BUSINESS WIRE)--#COVID19--The COVID-19 pandemic took a substantial toll on the Chinese automotive industry. While major players implemented changes to ensure business continuity, some companies are struggling to maintain business continuity and retain employees. This has been the most challenging time for the Chinese automotive industry since the SARS outbreak in 2003. Currently, companies must adjust business operations and implement strategies to ensure business continuity. In their recent successful engagement, Infiniti�s experts assisted a Chinese automotive industry player in overcoming the business implications of the COVID-19 pandemic and prepare for potential risks in the future.
To leverage Infiniti�s expertise in developing comprehensive strategies to ensure business continuity and emerge stronger in the post-COVID era, request a free proposal.
�The coronavirus outbreak has had a major impact on the Chinese automotive industry and has led to an unforeseen disruption of business operations. Implementing a sound business continuity plan is the key to survive through these tough times and emerge stronger,� says an automotive industry expert at Infiniti Research.
The client, a Chinese automotive manufacturer and supplier, based out of China, witnessed a decline in sales by 20% due to the COVID-19 pandemic. Additionally, the client had to close production facilities and suspend discretionary spending. The Chinese automotive industry client also faced difficulties with near-time cash management and organizational resiliency. Therefore, the client sought to survive the pandemic and prepare for the post-COVID era. With the country recovering and the number of infected cases reducing, they sought to undertake strategies to recover the supply chain, match demand and supply requirements, and restart production while protecting their workforce. Further, the Chinese automotive industry client sought to understand supply chain risks, implement robust marketing strategies, to improve liquidity, and increase local production. They also wanted to evaluate the market potential for their products and services in the post-COVID-19 market.
Infiniti�s experts developed a comprehensive five-phased approach to the market potential analysis. The approach to assist the Chinese automotive industry client included the following:
- Creating a threat-map dashboard to keep pace with the potential impact of COVID-19 and the company�s response
- Developing contingency plans and implementing safety protocols to tackle COVID-19 challenges
- Segmenting and identifying the right set of suppliers to deal with product shortages
- Devising a sound marketing strategy and recommending supporting dealerships and providing demonstrations for customers at home
- Conducting financial stress tests to examine the client�s current cash flow and balance sheets
By leveraging Infiniti�s market potential analysis, the Chinese automotive industry expert was able to revive the supply chain, match volume to demand, and protect the workforce. The client also identified alternative suppliers in non-impacted geographic regions and improved visibility to supply chain risk. Further, the experts helped the client adjust production needs as per the requirement, identify and mitigate the risks of declining sales, and consequently maintain financial health. Additionally, the client understood potential supply chain risks, and with the threat-map dashboard, they were also able to stay updated about potential risks of the COVID-19 pandemic.
With Infiniti�s market potential analysis, the Chinese automotive industry client was also able to:
- Set new production priorities to manage demand-supply requirements by analyzing the potential product shortages and possible revenue decreases
- Identify local suppliers to support them at times of immediate requirements or product shortages
- Adjust marketing to focus on available models, develop better digital capabilities, and enable online sales channel
Speak to industry experts to gain comprehensive insights into the market potential of products and services in the Chinese automotive industry.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
US: +1 844 778 0600
UK: +44 203 893 3400