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The Covid-19 pandemic and Brexit have focused attention on the resilience of key sectors and firms. This paper explores the financial resilience of the 50 largest automotive firms in the West Midlands region of the UK in their response to disruption and economic shocks. The findings demonstrate that 22 firms are at high risk due to poor current liquidity ratios, with Coventry and Birmingham emerging as locations most susceptible to firm closures. High-risk firms include key flagship original equipment manufacturers operating at the downstream end of supply chains. If these firms were to fail, there would be a significant destructive impact on both the industry and the local economy. We assert an effective subnational industrial policy is required in order to support economic resilience in regions such as the West Midlands where a few firms account for a disproportionate share of employment and value-added.
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This article draws upon novel survey evidence to examine the possible regional impacts of Brexit as a ‘disruptive process' to manufacturing operations and logistics in the automotive industry, in the context of the regional resilience literature. The current Brexit (and Covid-19) context, along with the sector's need to re-orientate towards electrification, provides renewed urgency to reconsider industrial policy in spatial terms. The findings have salience not only in the context of anticipating and reacting to Brexit-induced economic shocks at a regional level, but also over the role of decentralized regional bodies. In this regard, the UK government's agenda of ‘levelling up' will be challenging, especially in the context of the place-based shocks likely to arise from Brexit as well as the impact of Covid-19. The article concludes that a more place-based regional industrial policy is required both to anticipate and to respond to shocks and also to reposition the sector in the region going forward.
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[...]the vehicle of the future must be considered within the broader framework of the mobility of the future, taking into account the entire value chain. Transforming our future into a sustainable future: planning for the automotive transition Didier Sepulchre de Condé, Mechanical industry The automotive industry is in turmoil, firstly because of the economic situation, with a market deeply affected by Covid, shortages of materials and components and disoriented customers;and secondly because of the structural situation, with the forced transition to electrification. The four paradoxes of the ecological transition of the European car industry Alois Kirchner, Former Director of Cabinet of the Minister for Industry The energy transition in the automotive sector is essential for achieving French and European climate objectives. [...]the actions implemented come up against four paradoxes, which must be overcome if this transition is to succeed: * the regulation on the reduction of CO2 emissions from the tank to the wheel, to the exclusion of other sources which now represent the majority of emissions from new vehicles;* the steering of vehicle traffic restrictions based on Crit'air stickers, leading to the prohibition of access to certain cities for vehicles that are more virtuous than others that are still allowed to enter;* the inability to implement policies to support the production of vehicles on European soil that are sufficiently powerful to halt the fall in associated jobs;a situation that benefits production sites that are not subject to the same environmental standards;* and the rising price of "green" vehicles, leading to a slowdown in the renewal of the fleet and the maintenance of a high level of pollution and carbon emissions.
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The accelerated digitization of the third decade of the twenty-first century poses a challenge both for science and for practice. The study presents partial results of continuous research on online reputation management of entities operating in the environment of low-carbon economy. The aim of the study is the application of a standardized methodology for calculating the Total level of Online Reputation (TOR) to determine the market position of selected Electric Vehicles (EVs) compared to the market position of conventional Vehicles with Internal Combustion Engines (ICEVs) in the online environment. The research sample consists of the ten best-selling Vehicles and the ten best-selling Electric Vehicles in the world by sales in the year 2021. Based on the measurement results and the subsequent analysis of the context, it can be concluded that the EV market shows the parameters of a developing market not only from the point of view of sales but also in terms of the overall level of Online Reputation as such. At the same time, it is possible to point out a high geographical specificity and significant disproportionality of the EV market compared to ICEVs. From the overall market perspective, the future of cars in the EV category is still unclear, as building trust in low-carbon products is limited by historical tradition. The main representatives of the EV industry thus represent the first forays of the onset of the low-carbon era in individual transport. The description of the issue will require the monitoring of status indicators over time. The results of the presented study can thus serve as a baseline and methodological framework for further research of the adoption of low-carbon policies in common practice.
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The automotive industry is set to face a series of fundamental changes in the following years. Along with the transition to electric vehicles or production of autonomous cars, companies are also expected to better address sustainability issues, usually divided into environmental, social and governance (ESG) aspects. The present paper aims to explore the relationship between non-financial sustainability, measured by ESG scores, and firm value in the automotive industry, where empirical evidence is scarce. A structural equation modelling (SEM) approach has been taken on a novel dataset of 131 listed companies worldwide across 6 years. Our results indicate a mixed influence of the E, S, G scores on firm value in the analyzed period, with some inconclusive effects, especially from the social score. The findings are beneficial for investors, fund managers and automotive companies' executives. Further research directions are also provided.
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This article discusses China's industrial and labour policy for the automotive industry facing the transition to the era of new energy vehicles. A conceptual framework on the regimes of production is employed to analyse the present transformation of industry structures in production models and labour markets. The growth of private-capitalist regimes of high-performance, low wages, and high profit incentives for workers is identified, which can be described as the 'Foxconnisation' of the industry, and it is at the expense of the corporate-bureaucratic regimes prevalent among the leading Sino-foreign joint ventures. As production networks become vertically disintegrated, some non-traditional industrial players are highlighted in the discussion of some recent developments in the industry during the ongoing COVID-19 pandemic. The profound transformation in the regimes of production brought about social contradictions related to the production process, and new challenges and implications for workplace policies. The empirical study of this article confirms the necessity of trade union strategies inside China from an international perspective in order to ensure social standards and a more sustainable green transformation of the industry.
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This paper explores the COVID-era government stimulus programs for the automotive industry in France and Germany. We assess the design of the sectoral support packages and the related policymaking processes against the background of the discourse about crisis-era state aid as an instrument of economic restructuring. We place the sectoral stimulus programs in the context of changing EU-level regulations and the following three country-level characteristics: the revival of industrial policy thinking among national policymakers;the growing economic pressures in the domestic automotive sectors;and the established structures of government-industry interest intermediation. Our results suggest that in both countries, large and technologically transformative recovery programs were introduced for the automotive sector. However, both support packages had a rather structurally conservative character and were influenced by different pre-existing state-industry dynamics: the corporatist concertation in Germany and post-dirigiste state interventionism in France.
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The effects of economic crises have different impacts on all sectors. The results of concerns vary depending on the cause, size, speed of spread, and economic power of countries. Businesses in different sectors are in a difficult situation. Companies take measures to reduce and overcome the crisis's effects with almost minor damage. In this study, the automotive industry and its enterprises are analyzed. In 2008, the financial crisis caused by mortgage loans in the USA and the health crisis that started due to the pandemic that beaning 2020 became globalized. The effects of these crises, which affected all sectors in quickly the automotive industry, are industry gated. The effects of products rising in situations in the European Union are compared. As a result, different effects of globalization and technological innovations are tried to be revealed.Alternate :Ekonomik krizlerin etkileri bütün sektörler üzerinde farklı etkiler yaratmaktadır. Krizlerin etkileri, ortaya çıkma nedeni, boyutu, yayılma hızı ve ülkelerin ekonomik gücü ile bağlantılı olarak değişmektedir. Farklı sektörlerde yer alan işletmeler güç durumda kalmaktadırlar. Íşletmeler krizin etkilerini azaltmak ve en az zararla atlatabilmek için tedbirler almaktadır. Bu çalışmada otomotiv sektörü ve işletmeleri incelenmektedir. 2008 yılında ABD'de Mortgage kredilerinden kaynaklanan finansal kriz ve 2020 yılında başlayan pandemi nedeniyle başlayan sağlık krizi küreselleşmiştir. Kısa sürede tüm sektörleri etkisi altına alan bu krizlerin otomotiv sektörü üzerinde yarattığı etkiler araştırılmaktadır. Krizlerin Türkiye ve Avrupa Birliği üzerinde yarattığı etkiler karşılaştırılmaktadır. Sonuç olarak, küreselleşmenin ve teknolojik yeniliklerin farklı etkileri ortaya konmaya çalışılmaktadır.
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PurposeThe main objective of this study is to analyze content posted by automotive sector brands on their YouTube channels, identifying the use of a branded content format, the application of insights to creative conceptualization and the dissemination of messages related to messages' environmental commitment.Design/methodology/approachA descriptive study was conducted using qualitative content analysis as the methodological approach. The sample is made up of 691 videos posted on YouTube from September 2020 to August 2021 by the ten automotive brands with the biggest advertising budgets in Spain (InfoAdex, 2021).FindingsThe findings reveal a predominance of the advertorial format in content posted on YouTube by automotive sector brands, while the branded content format is less popular. Creative concepts based on insights are rare and limited to videos with an advertisement format. The theme of respect for the environment is used mainly in connection with the discourse on vehicle features and not so much as a commitment by the brand in response to consumer concerns or the changes that the automotive sector is undergoing.Originality/valueThe originality of the study lies in the approach it takes to content posted by automotive brands on YouTube. The paper's contribution is innovative in that the study monitors posts by brands in the sample on YouTube over the course of a year, rather than just during the specific periods when these brands run advertising campaigns.
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Covid-19 pandemisinin tüm dünyaya yayılması sonucunda tüm sektörler ekonomik olarak bu krizden etkilenmiştir. Bu krizden etkilen önemli sektörlerden birisi de otomotiv sektörü olmuştur. Küresel ekonominin %4'ünü oluşturan otomotiv sektörü bu süreçte birçok sorunla mücadele etmek durumunda kalmıştır. Bu bağlamda bu çalışma Covid-19 döneminde (2020-2021) ve öncesinde (2018-2019) BÍST'te faaliyet gösteren otomotiv firmalarının finansal performanslarını analiz etmeyi amaçlamıştır. Bu noktadan hareketle firmaların finansal performanslarını analiz etmede çok kriterli karar verme yöntemlerinden birisi olan CRITIC tabanlı CoCoSo yöntemi kullanılmıştır. CRITIC yöntemiyle yapılan analiz sonucunda en fazla önem ağırlığına sahip kriter, özsermaye devir hızı rasyosu olurken;en az önem ağırlığına sahip kriter ise ekonomik rantabilite rasyosu olmuştur. CoCoSo yöntemiyle yapılan analiz sonucunda ise finansal performans sıralamasında FMÍZP ve FROTO firmaları ilk iki sırayı alırken KATMR ve BALAT firmaları ise son sıralarda yer almışlardır. Pandeminin etkisiyle elde edilen analiz sonuçları birlikte incelendiğinde pandemi öncesi dönemle pandemi döneminde finansal performans sıralamasında genel olarak bir değişiklik olmadığı, pandeminin firmaların finansal performans sıralamalarını değiştirmediği görülmektedir.Alternate : As a result of the spread of the Covid-19 pandemic worldwide, all sectors have been economically affected by this crisis. One of these sectors is automotive sector. The automotive sector, which constitutes 4% of the global economy, had to struggle with many problems in this process. In this context, this study aimed to analyse the financial performances of automotive companies operating in the BIST during the Covid-19 period (2020-2021) and before (2018-2019). From this point of view, the CRITIC-based COCOSO method, one of the multi-criteria decision-making methods, was used to analyse the financial performance of companies. As a result of the analysis conducted by the CRITIC method, the most important criterion was the equity turnover ratio. The criterion with the least important was the economic profitability ratio. As a result of the analysis made with the CoCoSo method, FMÍZP and FROTO companies took the first two places in the financial performance ranking, while KATMR and BALAT companies took the last place. When the analysis results obtained with the effect of the pandemic are examined together, it is seen that there was no general change in the financial performance rankings between the pre-pandemic period and the pandemic period, and the pandemic did not change the financial performance rankings of the companies.
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Has the COVID pandemic just been another crisis that had hit the Japanese automobile industry over the past three decades or has it been a watershed moment with respect to the shift to electric cars (EVs)? After presenting data regarding the development of Japanese industry and the evolution of policies for ecological friendly cars, the paper argues that, given that all major automobile markets and most foreign competitors are shifting towards battery electric vehicles (BEVs), the Japanese automobile producers have no choice other than abandoning conventional combustion engines including hybrid technologies and changing their strategies as well to BEVs. They do so, not because of government carbon neutral policies or out of conviction of the ecological superiority of BEVs, but just out of pure pragmatism in order to maintain their international competitiveness regarding products and production. COVID did not trigger but accelerated these developments.
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IntroductionCoronavirus disease 2019 (COVID 19) saw an overhaul in the biomedical waste management (BMWM) practices) Waste handlers were at the brunt of these changes. If the challenges pertaining to BMWM at the ground level are better understood, more effective measures to overcome them can be formulated.MethodologyThis qualitative research using in-depth interviews was done on 17 participants during August to November 2021 in a tertiary care institute in Mumbai. Thematic analysis was conducted on the qualitative data obtained.ResultsThree major themes were generated from the transcripts. They are-challenges and concerns faced by BMW handlers, enablers/motivators, opportunities and future practices. Various challenges faced by waste handlers were- difficulties in segregation and transport of BMW, exhaustion from PPE usage and fear of acquiring and spreading COVID 19 from work, stigma faced from public, and handling COVID 19 deaths. Support from family and colleagues, incentives and a positive change in public perception enabled them to work.ConclusionsIt is of utmost importance to address challenges faced by waste handlers in BMWM. This will improve hygiene, workplace safety and reduce transmission of diseases. Onus should also be on periodic training in BMWM.
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PurposeThe authors observe the influence of intellectual capital (IC) on innovation performance with the mediating role of interorganizational learning (IOL) in the Pakistani automotive industry. Besides, industrial Internet of things (IoT) technology is used as moderating variables between IOL and innovation performance.Design/methodology/approachStructural equation modeling (SEM) presents scholars with extra flexibility and enhanced research conclusions. SEM is described as a statistical methodology and the best tool used for hypothesis testing. The authors used partial least squares SEM for testing hypotheses. The simple random sampling technique followed to collect data from respondents, and 492 questionnaires were used for analysis.FindingsThe outcomes reveal that IC enhances innovation performance and IOL. Moreover, IOL increases innovation performance. IOL significantly mediates between IC and innovation performance. Industrial IoT technology improves innovation performance. Finally, industrial IoT technology strengthens the positive association between IOL and innovation performance.Practical implicationsThis study concentrates on the issue of how managers use IOL and industrial IoT technology to take higher advantage of IC that increases innovation performance.Originality/valueThis is the initial study that builds a theoretical framework to integrate IC, IOL, industrial IoT technology and innovation performance. Although prior researchers observe the association between IC and innovation performance, less concentration was paid to understand the role of interorganizational leadership and industrial IoT technology in leveraging organizational IC.
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The automotive industry's performance in Mexico was affected by the health and economic SARS-CoV2-crisis. As part of the complex North American supply chain, several factors influenced decision-making on crisis management. We determined the multilevel governance mechanisms to characterise the process of implementing activities. The productive performance of the industry, capacity utilisation rate per plant, employment, and foreign direct investment were evaluated. The federal government's support was scarce, although subnational governments were more sensitive to cooperate with stakeholders. Companies had to adapt to pandemic conditions and also to changes in the political and institutional environment driven by the USMCA and tensions between the USA and China. As a result, inward FDI flows and nearshoring practices are growing in the northern Mexican regions, stabilising the supply chains.
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PurposeWhile prior research has investigated factors that predict consumers' information search behaviors as they relate to automobiles, such studies were conducted prior to the COVID-19 pandemic. Given that the pandemic has necessitated lockdowns, social distancing, business closures and other disruptions to normal shopping activities, consumer information search behaviors have also been substantially altered as the psychological distance between consumers and marketers has increased. Thus, this study aims to examine these changes and identify patterns of search behavior for a major durable product: automobiles.Design/methodology/approachUsing survey data from before and during the pandemic, the study implements Finite Mixture Modeling to unveil latent segments of U.S. consumers' search behaviors and choices for Japanese automobiles. This analytic method enables capturing consumer unobserved heterogeneity through mixing probabilities guided by individual characteristics. These segments are determined based on consumers' information search for online and offline marketer-controlled and nonmarketer-controlled sources.FindingsThe study identifies that two segments of consumers emerge both prior to the pandemic and during the pandemic. These empirically validated findings indicate that the pandemic has led to shifts in consumers' information search behaviors for Japanese automobiles by relying more on nonmarketer-controlled sources of information.Originality/valueThis work is among the first comprehensive empirical analyses of consumer search for a major durable product by comparing pre- and during pandemic patterns. Using analytics and econometrics, the first-hand analysis findings offer meaningful implications for marketers and product managers in the automotive industry.
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A rise in the COVID-19 pandemic has led to increase in biomedical waste (BMW) all over the globe that leads to the perilous situation. Hence, this review has made an attempt to gather all the guidelines for appropriate BMW management in dental practice during COVID-19 pandemic. The keywords such as Biomedical waste management guidelines, COVID-19, dental waste management, and India were used in the literature search engines such as PubMed, Scopus, Web of Science, and Google Scholar along with the various guidelines provided by international, national agencies and verified government websites with a focus on the BMW management in dentistry during COVID-19. The result enumerated that Biomedical Waste Management Rules, 2016, categorizes the bio-medical waste generated from the health-care facility into four categories based on the segregation pathway and color code. These guidelines were reshaped in 2018, 2019, and in 2020 for COVID-19 pandemic. Collection and segregation of biomedical waste separately before handling it to the Common Bio-medical Waste Treatment and Disposal Facility was highly recommended that should be labeled with "COVID-19” both in medical and dental waste management guidelines. This review revealed that BMW management guidelines should be followed by all the health-care fraternities including oral health professionals as they are at a heightened risk of COVID-19, it is vital that they are informed of the most up-to-date protocols for BMW disposal in this pandemic.
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The Covid-19 pandemic has caused severe economic depression and has disrupted the supply chains of various industries. The automobile industry which contributes significantly to the Indian economy was gravely hit due to the lockdowns, semiconductor shortage and the uncertainty associated with the pandemic. This research paper analyses the effect of Covid-19 on the automobile sales in India using the time series modelling approach. The data recorded by SIAM from 2012 to 2019 was used to develop the Autoregressive Integrated Moving Average (ARIMA) model following the Box-Jenkins methodology. ARIMA model (2, 1, 3) was chosen as it had the lowest AIC and BIC criteria. This model was used to forecast the sales from 2020 to 2021 to give a picture of the expected automobile sales had the pandemic not occurred. The forecasted data from the model developed has then been compared with actual automobile sales data during the pandemic to gauge the level of impact Covid-19 had on the Indian automobile industry. The paper also explores the associated challenges that the automobile industry had to face due to the pandemic. © 2022 The authors and IOS Press.
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Automotive Mission Plan 2006-2016 launched by the Government. The main objective is to promote the automobile industry and thereby create 35million employment opportunities for the people. The AMP2006-2016 was based on development of diesel petrol engine and two wheeler three wheeler power tractor engine transmissions. This scheme was of great help in the development of the automobile industry. And in the next 10 years i.e. Automotive Mission Plan 2016-2026 the project aims to take automotive development in India to a global level. AMP 2006-2016 compared to the last year 2016 -2026, 65 billion direct and indirect employment opportunities and the main features of the project are to improve the automobile industry and protect the environment from pollution. But the project was in 2019 when the auto industry was in major economic trouble due to Covid. So how the objectives of AMP 2016 2026 will be implemented can be seen through the article below. Copyright © 2022 Ubiquity Press. All rights reserved.
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The North American International Auto Show (NAIAS) returned to Detroit in September after a three-year hiatus due to the COVID-19 pandemic, and it could fairly be described as weird. Becker usually attends to see not just the latest automobile designs but the newest technology. This year, the show was smaller than ever, had fewer automakers participating and had almost no displays on the inner workings of the vehicles. How did the public react? One measure would be attendance, which in prepandemic years often exceeded 800,000 people. Unfortunately, the Detroit Auto Dealers Association (DADA), which runs the show, has announced it will not be releasing attendance figures this year. A DADA spokesperson, Frank Buscemi, didn't explain the reason behind this decision. His guess is that the number would be embarrassingly small.
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Purpose>This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approach>This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.Findings>The Toyota Way provides organizations with a blue print for adopting both lean and agile manufacturing principles, allowing them to gain a significant competitive advantage.Originality/value>The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.