The impact of financial crisis on Automotive industry of United Kingdom due to outbreak of Corona Virus (SARS-CoV-2)

This document discusses the impact of the financial crisis on the Automotive industry of the United Kingdom due to the outbreak of Corona Virus (SARS-CoV-2). It explores the challenges faced by the industry and the economic conditions of the country. The document also presents research objectives and questions related to the topic.

Proposal

Contents
Title of Topic- The impact of financial crisis on Automotive industry of United Kingdom due to
outbreak of Corona Virus (SARS-CoV-2).......................................................................................3
1.0 Introduction................................................................................................................................3
1.1 Identify a specific researchable topic area........................................................................3
1.2 The importance of the problem........................................................................................3
1.3 Aim of the research project..............................................................................................4
2.0 Research Objectives and Research Question.............................................................................4
Research Objectives...............................................................................................................4
Research questions.................................................................................................................4
3.0 Literature Review.......................................................................................................................4
References........................................................................................................................................6

Title of Topic- The impact of financial crisis on Automotive industry of United
Kingdom due to outbreak of Corona Virus (SARS-CoV-2).
1.0 Introduction
Automotive industry of United Kingdom is considered to be one of the crucial sector that affects
economic conditions of the country in both negative and positive sense. Due to outbreak of
Covid-19 or Corona Virus, it can be said that every single country reached to the position where
they had to lockdown all the sectors in order to reduce the spread of the deadly virus.
Automotive industry got affected the most due to the lockdown resulted into productivity and
profitability. Basically, spread of coronavirus, many business organisations started cross cutting
which impacted negatively on spending power of customers. It has been analysed that,
approximately 97% decrease in deals came in front in the month of April of 2020 if it is
compared with the last year. The closure of vehicle sales centers as a major aspect of measures to
attempt to compete with the infection has hit purchaser enlistments (Hafiz and et. al., 2020)
1.1 Identify a specific researchable topic area
The specific reason behind performing investigation on the chosen topic is because, many of the
investigations has already been performed on financial impact of SARS-CoV-2 on different
sectors like retail hospitality and so on. However, automotive industry is considered to be the one
which was not specifically being researched in a detailed manner and it is necessary to conduct
investigation in relation to future aspects of finding out the ways through which effects of the
impact can be reduced to minimal in near future. With the help of this, researcher will effectively
may become able to deliver important information in relation with COVID-19 and its impact on
automotive industry.
1.2 The importance of the problem
Solving the problem which has been taken into consideration as a research topic “A critical
appraisal of financial crisis on Automotive industry of United Kingdom due to outbreak of
Corona Virus (SARS-CoV-2).”, will help investigator in pulling out favourable information in
much effective manner about what decisions are required to be made in order to pull United
Kingdom out from the same sort of situations if it takes place in near future (Ahmad and et. al.,
2020).

1.3 Aim of the research project
For present investigation, based on the topic the name that has been developed is “To analyse the
impact of financial crisis on Automotive industry of United Kingdom due to outbreak of Corona
Virus (SARS-CoV-2).”
2.0 Research Objectives and Research Question
Research Objectives
 To analyse the impact of financial crisis on automotive industry of UK.
 To assess the outbreak of Corona Virus’ impacted on economic conditions of United
Kingdom.
 To identify the challenges faced by automotive industry because of Pandemic COVID-
19.
Research questions
 What is the impact of financial crisis on automotive industry of UK?
 How outbreak of Corona Virus’ impacted economic conditions of United Kingdom?
 What are the challenges faced by automotive industry because of Pandemic COVID-19?
3.0 Literature Review
According to Fernandes, (2020), Novel Coronavirus (COVID-19) Pandemic developed around
the finish of December 2019 at Wuhan, Hubei area, China. The pandemic is majorly affecting all
parts of businesses, including car division, with significant makers either completely shut down
after the orders gave by nearby governments or are running with negligible staff at creation units
to guard their faculty. United Kingdom’s Automotive industry where monetary exchange effect
of COVID-19 pandemic on car industry is evaluated to be around $ 5.7 billion with European
Union the most exceedingly terrible hit locale at $2.5 billion decrease in car industry because of
interruption in car gracefully chain in the midst of decrease in provisions from China. The OECD
said the pandemic had begun to subside in numerous nations and action had started to get, yet it
doesn't anticipate a persuading recuperation. It considers the to be for general wellbeing as very
questionable. Chief of OECD who is a market analyst named as Laurence Boone said the

pandemic would have "desperate and enduring ramifications for individuals, firms and
governments".

References
Books and journals
Fernandes, N., 2020. Economic effects of coronavirus outbreak (COVID-19) on the world
economy. Available at SSRN 3557504.
Hafiz and et. Al., 2020. Regulating in pandemic: evaluating economic and financial policy
responses to the coronavirus crisis. Boston College Law School Legal Studies Research
Paper, (527).
Ahmad, T., Haroon, M.B. and Hui, J., 2020. Coronavirus Disease 2019 (COVID-19) Pandemic
and economic impact. Pakistan journal of medical sciences, 36(COVID19-S4), p.S73.