Two of the biggest challenges faced by suppliers during the coronavirus crisis are navigating automakers' uncertain production schedules and securing the liquidity needed to sustain the business until the market bounces back.
Those are among the key findings of the latest survey conducted by the Automotive News Data Center. The survey — which gathered the views of 120 executives, managers and directors at suppliers servicing and operating in North America — found that suppliers have a grim outlook about the impact of COVID-19 on their business.
Other challenges respondents cited include staying flexible in response to uncertain recovery scenarios and implementing changes within their facilities in response to the "new normal."
The survey, conducted April 16 through Wednesday, April 29, found that suppliers also feel they are not getting the support they need from their customers as they navigate unclear production restart dates. About 93 percent said their primary automaker customers were giving no signs that suppliers will get financial assistance from them.