Cost-cutting and survival measures driven by Covid-19 are likely to lead to more mergers and acquisitions in the global motor industry and encourage it to focus less on expensive new technologies in the short-term and more on operational efficiencies.
A new report by consultancy firm KPMG says the pandemic is likely to delay parts of the industry's long-term transformation. For example, it says lower oil prices have reduced ownership costs of cars powered by traditional petrol and diesel engines and slowed demand for electric vehicles .
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