Cloud Theory Announces Release of Report Entitled "Over the Horizon: Evaluating the Impact of COVID-19 on the Auto Industry"
Cloud Theory used its unique ability to gather complete and comprehensive supply and demand data and its Inventory Efficiency Index to publish an in-depth retrospective of COVID-19's effect on the automotive industry.
GRAND RAPIDS, Mich., May 31, 2023 /PRNewswire/ -- The days of automakers stocking dealer lots with 3.5 million units of inventory are gone, a long-term result of the industry's lessons learned during COVID-19. As a result, manufacturers will need to learn to balance just-in-time delivery with 'just-in-case' parts supply.
The findings were part of 'Over the Horizon: Evaluating the Impacts of COVID-19 on the Automotive Industry,' a report released today by Cloud Theory, the automotive industry leader for real-time inventory and vehicle movement insights. This report looks at the effects COVID-19 had on supply, demand, and pricing for the industry as a whole and for all OEMs from 2020-2023.
The World Health Organization (WHO) announced earlier this month that the COVID-19 pandemic is no longer a "public health emergency of international concern." Cloud Theory took this announcement as an opportunity to dive deep into the past three years, examine the industry's struggles and strategies, and look back at the resilient dynamics tht kept the industry afloat. Cloud Theory uses its one-of-a-kind Inventory Efficiency Index (patent pending) to view the changes in how automotive makes were faring during COVID and which ones emerged as the top performers in the present.
Rick Wainschel, VP of Data and Analytics for Cloud Theory, says, "While we usually focus on real-time insights to help OEMs and their agency partners make smart resource allocation decisions, some events require a historical look at how we got to where we are now. The profound disruption of COVID-19 – personally, socially, professionally, and financially – undoubtedly warrants putting our current circumstances into perspective."
"Over the Horizon" is now available for free download on Cloud Theory's website.
About Cloud Theory???
Cloud Theory is more than a concept. It is the eye of the storm, where cutting-edge data, software, and artificial intelligence meet deep industry knowledge and experience. Built for automotive manufacturers, agencies, and affiliates, Cloud Theory enables our customers to understand – in real time – the complex competitive world in which they do business and to make bold decisions that drive them forward. The combination of billions of data points, interactive tools, and expert consulting gives our clients the ability to weather any storm and find their way to clear blue skies. Learn more at cloudtheory.ai. To learn more about our entire portfolio of automotive brands, visit www.advancelocalautomotive.com.
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