According to the study, the coronavirus pandemic has ushered in a new cocoon culture that is not likely to revert to pre-pandemic levels even if vaccine is made widely available. This may have devastating consequences for the auto industry and will remove 14 million cars from the nation’s roads, forecasts the study.
“People buy a car to get to and from work and because shopping is a very important part of their lives,” said Gary Silberg, head of KPMG’s global automotive practice. “If two of the primary missions that the American public buys a car for are going to reduce in demand, we know that’s going to have an adverse impact on auto sales.”
The change in driving habits could result in nearly 1 million fewer new vehicles being sold each year, he added.
On the upside, the market for delivery vehicles is booming, with some automakers already capitalizing on the shift.
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