Impact of COVID-19 on Aston Martin and Success Factors for Automobile Industry

This report discusses the impact of COVID-19 on the automobile industry, with a focus on Aston Martin. It covers the decline in sales, financial statements, share values, and labor. The report also discusses success factors for the industry, including autonomous vehicles, connection, internet of things, and data analytics.

Global Business Environment
Assessment — 2

Table of Contents
Global Business Environment..........................................................................................................1
Assessment — 1...............................................................................................................................1
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The impact of the pandemic on the auto mobile industry............................................................3
Success factors for the industry with consideration to mega-trends............................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Basically it has been already understood that because of the time of the COVID-19 pandemic
several sectors as well as companies have encountered major effect on their operations of the
business as well as profitability. Various companies has to faces various losses which majorly
impacted the growth and development of the nation (Amankwah-Amoah, Khan, and Wood,
2021). The following report is based on the automobile company Aston Martin in which it will
represent the effect of the pandemic as well as making and forming the survival and factors of
success of the sector. Together with that the suitable evaluation will be conducted with proper
information of research. The following report will also cover about the discussion regarding the
influence of the automobile sector which can support the respective organization for the long
period of time.
MAIN BODY
The impact of the pandemic on the auto mobile industry
In accordance to the pandemic COVID-19 which has given the major negative influence on the
entire world as well as on the several businesses. In order to prevent the spread of the virus
various nation from around the world has imposed the global lockdown in their respective
nations which can minimise the probability of spread of the virus. This lock down majorly
impacts value chain of the various or all the industries expect from few negatively. From the past
2 years the automobile sector has also encountered and bear various big losses as well as
reduction in their economic share of the market (Chofreh, and et.al., 2021). It has also been
understood that the pandemic has influenced company which is Aston Martin in to their
operations as well as sales which has now lead to low sales have any of the company.
Decrease sale: COVID-19 pandemic has majorly negatively acted the several industries and
sectors globally. In relation to the organization Aston Martin management also had to encounter
several barriers as well as obstacle in which one of them is they are declining sales consistently
after the pandemic. Because of the disease several organization which belongs to automobile
industry has majorly influenced as well as it leads team to bear major losses. Moreover to this
legal authorities has also imposed the strict regulations and lock down in the entire nation and

because of this Aston Martin words forced to close their outlets for a very long period of time
which was the main reason of their decline in sales in the several nations. The breakdown of the
sales revenue majorly impacted the shares of the organization as well as it leads then to shift
downwards in the position of market. The organization must prepare the backup strategy in order
to overcome the impact of the natural disaster as well as they need to concentrate on the
evolution of the automobile industry in their business market.
Financial statements: The challenge is launching the Idea of fiscal accounts that is the major
element in order to operate the company. All the industries or the businesses needs the properly
managed economy because of this they can attain more success in the market as well as offer
well systematic objectives to the people. In context to the company Aston Martin management
has encountered the decline in the profitability because of this pandemic. This has also been
understood that the organization bear the loss of around 10% in the last 2 years. Additionally
company Aston Martin is one of the top company in the automobile industry that attains more
and more profitability but because of the pandemic and lock down the organization was not fully
capable to enhance their income (Fabuš, Dudáš, and Cihelková, 2021). In accordance to the
organization needs to concentrate on their fiscal management show that at the time of such
pandemic or disaster management can be more in the stable position and also can maintain their
financial condition. Moreover to this the automobile sector has the major influence on the
commercial activities as well as facing the problems that can be the reason of decline in their
market position.
Affect share values: By monitoring the major effect of the COVID-19 which involves the
influence on the value of share of the company. In the year 2020 the COVID- 19 times in which
the prices of the organization Aston Martin declines around 12% in this retail sales for the
specific fiscal year. Due to it pandemic problem the management was forced to pair various
major losses and they are also not much capable to serve or pay the obligatory amount of tax to
the legal authorities in an effective way. Although later after the company has maintained their
value of share but after that only second wave of this pandemic again impacted the growth as
well as economy of the organization which has decline the market position of the Aston Martin.
As the value of the shares declines the organization will be wearing major losses as well as they
are not capable to maintain the accurate technique in order to attain success.

Labour: At the time of pandemic COVID-19 the most impacted area of the company is there
lower level employees or labour workforce. The worldwide pandemic shows to execute and
implement several restrictions and lockdown policies in order to prevent the spread of the virus
to the other people (Ghauri, Strange, and Cooke, 2021). By operating in the organization
enhance the threat and risk of life from this deadly virus which can spread by breathing and air.
Together with that community of labour’s also get impacted as well as they also loses their
employment in many companies because businesses were not more capable to pay the wages of
their workers tell the market reopens again. During the COVID- 19 pandemic make it enhances
the rate of employment and also forced individuals in order to bear and suffer from the fiscal
challenges also. Because of the low workers in the organization has also lead to the decline in the
productivity and performance of the company.
Success factors for the industry with consideration to mega-trends.
Autonomous Vehicles: Commonly the element of the success involves this statement as the
industry of automobile has formed in an effectual method by offering as well as delivering the
automobile vehicle in the entire globe. It shows the clarification of the manufacturing in which
the self-driven vehicles are majorly focused as well as the goal is to reduce the requirements as
well as desires of the people and move ahead in order to develop and transform routine
transportation. This factor also minimises the chances of life threatening risk as well as accidents
by the various technical tools search is artificial intelligence computer version that detects the
hurdle or any of obstacle which is going to come earlier (Kuknor, and Bhattacharya, 2021).
From the studies it has also been understood that the organization has produced the various
vehicles in which people can easily control the sports vehicle without sitting in the car with the
support of the smart phone also. It also involves the guidance that offers brief in order to park the
car in an appropriate and exact way. In according to this method organization Aston Martin can
also take the support of this strategy of production which can support them to attain more growth
as well as success in the marketplace effectively and efficiently
Connection : It has also been understood that digitalization is developing in the major speed and
it is supporting the peoples to develop as well. In relation to the industry of automobile the
linkage has been exhibited that shows the cars to be more differentiate for other brands vehicle in
the market area. In the simple words this assist too conveniently track the data of the vehicle for
several as well as various reasons for like measures of drivers safety, management of fleet,

maintenance and insurance. To whether we did this also better the safety in traffic and supply the
driver more convenience. This has also been understood that autonomous land of the production
of the vehicle as well as techniques in which automatic operations are conducted. In accordance
with the company extend Martin management can also take assistance from this operation in
order to becoming more capable to attain the suitable success as well as growth of the company
in the market area.
Internet of things : Commonly the major announcement of the adaptation of the technology
which has led to better the entire globe as well as its system of economy. In addition to this the It
is possessing the key and the major part in the growth and success of the businesses and
industries as well. From small to large industry each organization needs the Internet of things in
order to support as well as drive the Sales of the business towards the better position. Together
with that industry of automotive is crewing with the help of Internet of Things and also assisting
them to develop and create they are valuable position in the market area (Kumar, and et.al.,
2021). In the automotive industry currently with the truth of technology as well as Internet the
Internet of Things supports the interaction or communication among the components of
infrastructure and vehicles. It also involves the guidance and direction of the roads with the help
of navigation and also tells about the best route which has minimum traffic. Moreover to this
with the suitable usage of Internet the industry of automobile also minimises the expenditure of
energy as well as pollution with the appropriate management of the fleet. Also even with the
enhanced development of this industry the fuel payment and toll payments are also deducted
through various automatic technology
Data Analytics : In this element it shows the analytics of the big data that supports as well as
helps in making of various decision of the vehicles. This aspect assist to gather and collect the
suitable data that enhance the process of growth and success of the company for the long period
of the time. In any industry this element is very crucial part as it has to be executed as well as
encourages the guru and sustainability of the business. Monitoring at the industry of automobile
it also used a collection of data and function of analysis in order to decide the development and
success of the company. In relation to the organization Aston Martin management can also use
these practices as it will support them in maintaining their supply chain, sales, manufacturing,
after sale services, design of the product and many more. The gathering of the information will
support to sustain the development as the organization gathered data which is linked to the trend

of the market and consumers that enhances the production as well as sales together with
betterment in the structure of the economy of the company. In addition to this.
CONCLUSION
From the above report it has been concluded that the pandemic over 19 as the major negative
impact on the industry of automobile as it has led to the decline in the global economic aspects.
The pandemic over 19 as the major influence on the respective which decreases the market
position of the company also. This will also assessed to determine the management of risk by
gathering of information which can lead the organization to protect their company in accordance
to it only. Internet of Things is accessible in all the locations and also at all the process of work.
Currently without the utilization of Internet of Things people feel more challenging in order to
manage as well as maintain their operations and process of working in an effective and efficient
way.

REFERENCES
Books and journals
Amankwah-Amoah, J., Khan, Z. and Wood, G., 2021. COVID-19 and business failures: The
paradoxes of experience, scale, and scope for theory and practice. European
Management Journal, 39(2), pp.179-184.
Chofreh, A.G., and et.al., 2021. Covid-19 shock: Development of strategic management
framework for global energy. Renewable and Sustainable Energy Reviews, 139,
p.110643.
Fabuš, M., Dudáš, T. and Cihelková, E., 2021. Business environment analysis based on the
Doing Business: case study Slovakia. Insights into Regional Development, 3(3), pp.56-
65.
Ghauri, P., Strange, R. and Cooke, F.L., 2021. Research on international business: The new
realities. International Business Review, 30(2), p.101794.
Kuknor, S. and Bhattacharya, S., 2021. Organizational inclusion and leadership in times of
global crisis. Australasian Accounting, Business and Finance Journal, 15(1), pp.93-112.
Kumar, S., and et.al., 2021. What do we know about business strategy and environmental
research? Insights from Business Strategy and the Environment. Business Strategy and
the Environment, 30(8), pp.3454-3469.