Hilco Global Report Highlights Cascading Impact, Rough Road Ahead for Auto Industry in Wake of COVID-19
NORTHBROOK, Ill., March 30, 2020 /PRNewswire/ -- Hilco Global has issued a timely and relevant report on the impact of rapidly evolving events in the automotive industry, ways in which manufacturers and suppliers are rising to difficult challenges, and how the fallout from COVID-19 may lead to difficulties in jump-starting the industry as the current crisis dissipates in the second or third quarter of this year.
Automotive Industry Braces for Impact, Actively Responds to COVID-19, authored by Keith Spacapan- Vice President of Hilco's Automotive Practice, examines the cascading effect of the pandemic across the industry, including a look at the potential impact of a rushed and less-than-orderly shutdown of operations at many locations.
The report also explores how an unprecedented lack of consumer interest in car buying during this period has driven manufacturers and dealers to extend special financial terms and deferred payments in order to move inventory; and how some manufacturers are adopting a wartime mentality, taking steps to tool-up for production of items including medical masks and hospital ventilators.
"The most recent development is that we're now starting to see significant supply chain impacts on automotive parts suppliers," says Spacapan, "Given that the U.S. is at least 60 days behind the COVID-19 curve established in China, and that China is only now returning to some level of functional normalcy, it's likely that we're still only experiencing the leading edge of the greater industry impact to come."
To obtain a copy of the report or schedule an interview with Keith Spacapan, contact Gary Epstein- Chief Marketing Officer, Hilco Global at 847-418-2712.
About Hilco Global: Hilco Global (www.hilcoglobal.com) is a privately held diversified financial services company and the world's preeminent authority on maximizing the value of assets for both healthy and distressed companies. Hilco Global operates as a holding company comprised of over twenty specialized business units that work to help companies understand the value of their assets and then monetize that value. Hilco Global has a 30-year track record of acting as an advisor, agent, investor and/or principal in any transaction. Hilco Global works to deliver the best possible result by aligning interests with clients and providing them strategic insight, advice, and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has 600 professionals operating on five continents.
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