The effects of the corona pandemic have at times brought entire economies to a standstill, causing one of the most serious economic crises in decades. In addition to the tourism industry, the manufacturing sector has also been hit particularly hard. According to the German Association of the Automotive Industry (“VDA”), for example, the number of new vehicle registrations in Germany fell by 35 percent to 1.21 million units in the first half of 2020. For the year as a whole, the VDA expects a decline of around 23 percentage points in Germany, with the European market also expected to shrink by a similarly sharp 24 percentage points. Now that the initial shock has been overcome and initial measures have been taken to mitigate the immediate effects, the task now is to implement measures with long-term effects in order to achieve a certain degree of robustness against further waves of infection or entirely new pandemics.
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